Katonah, New York, January 2, 2025 – SpeedTrader, Inc., a U.S.-based direct access stock broker specializing in stock and options trading for active individual day traders, hedge funds, family offices, and investors, is proud to announce the appointment of Todd Tabacco as Vice President of Securities Lending. Under Tabacco’s leadership, the firm has made significant strides in expanding its short locate services, solidifying its position as a key player in the short-selling market.
With over 25 years of experience in the securities lending industry, Todd Tabacco brings a wealth of expertise and an unparalleled network to SpeedTrader. His track record of building successful securities lending operations at highly respected firms has been instrumental in accelerating SpeedTrader’s growth in this sector.
“Having Todd on board is a game-changer for SpeedTrader clients,” said Joe Ely, CEO and President of SpeedTrader.” His deep knowledge of the short locate business, combined with the strong relationships he has cultivated over the years, equips us with the resources to make SpeedTrader a premier destination for short sellers. Todd’s leadership is driving our commitment to providing access to hard-to-find stocks at highly competitive prices.”
In his first few months at SpeedTrader, Tabacco has overseen transformative enhancements to the firm’s short locate services, including:
- Increasing Third-Party Providers: The number of third-party short locate providers has grown from six to fourteen, significantly expanding availability.
- Innovative Interface Design: A newly designed short locate interface simplifies the process, allowing traders to efficiently access information and secure the lowest-cost locates.
- Pre-Borrow Feature: The introduction of a pre-borrow feature helps traders avoid buy-ins, offering greater flexibility and security.
- Enhanced Competition: By broadening the range of providers, SpeedTrader has fostered a competitive environment that drives down costs for clients.
“Our goal is to make SpeedTrader synonymous with short selling,” Tabacco said. “By expanding provider options and introducing tools that prioritize efficiency and cost savings, we’re committed to being the go-to platform for active short traders. These improvements are just the beginning as we continue to enhance our offerings to meet the evolving needs of our clients.”
SpeedTrader remains dedicated to empowering traders with innovative solutions and industry-leading services that align with the demands of today’s fast-paced markets.