Convergex Prime Services has added fully-paid-for lending capabilities to its securities lending services, enabling investors to potentially generate additional income in their portfolios through interest on fully-paid-for or excess margin securities.

Convergex Prime Services, part of the global brokerage and trading services group Convergex, has integrated with Convergex’s Global Clearing department and now offers an enhanced securities lending package to its larger hedge fund clients and third-party institutional investors.

The integration adds to the Prime Services team’s current range of services to its clients which includes opening and monitoring accounts, cross-referencing securities and customized reporting capabilities.

It has also entered into a clearing agreement with INTL FCStone Financial, leveraging FCStone’s futures execution capabilities and prime brokerage platform for use by Convergex clients.

The agreement allows 24-hour trading access for clients, alongside full portfolio and risk reporting features normally restricted to larger hedge fund managers.

New York-based Convergex serves over 3,000 clients and has access to over 100 global market centres. The company’s Prime Services unit provides integrated prime services to hedge funds, family offices, mutual funds and registered investment advisors.