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We solve for Short-Sale-Restricted (SSR) names.
We are your Path to Liquidity.
Every symbol losing 10% from the previous day's closing price (on any US Exchange) is subjected to short sale restriction for the remainder of that day and the entirety of the following business day (SEC Rule 201).
Once restricted, every symbol requires an execution price greater than the NBBO bid regardless of the bid’s tick. Strategic Price Improvement (SPI) establishes an improved price above the bid and buys your sale on the ACT – a NASDAQ TRF. Our b/d partner takes the risk and you achieve a measured and instant fill!
Many active names from both NYSE and NASDAQ (often several hundred), as well as equity ETF’s grace this list each day. Daily volume in SSR names frequently runs over one billion shares.
We serve FINRA, CBOE and CHX registered broker-dealers as well as provide alternate route services to ATSs in both the dark and lit environments.
No subscription, connectivity, or service fees
SPI remains passive in your toolbox unless triggered
SPI Stocks provides software solutions for our Broker/Dealer who will contribute liquidity for your trade. We are simply an alternative route to liquidity when needed.
Who Needs SPI?
Short Sale Specialists, Delta-One Traders, the new Single Stock ETFs, ADR players
Risk Managers, Options Market-Makers, Basket/ETF Traders, High-speed Traders
Event-Driven Funds, Market Neutral Funds, Pairs Traders, & Convertible Bond Traders
OMS/Front-End providers who want to provide a more comprehensive service
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