Direct Access Partners, an institutional agency-only brokerage firm, is expanding its service offering with the addition of global prime services.
This multi-prime brokerage will provide a single point of contact for both back-office operations and technology.
Global prime services allows clients to opt for either a single- or multi-prime solution with custodians such as Goldman Sachs Execution and Clearing, Bank of America/Merrill Lynch, and Bank of New York Mellon/Pershing.
Clients will be able to take advantage of Direct Access Partners’ service offering, including multi-asset execution in over 100 markets as well as independent research, securities lending and business consulting.
Direct Access Partners has also recently added a capital raising team.
“As the investment industry undergoes dramatic change, we continue to evolve our business model to help clients grow,” says Ben Chinea, chief executive of Direct Access Partners. “The multi-prime offering is a natural extension of the operational functions we have been facilitating for over seven years. This is the next logical step in our existing suite of services.”
Clients will also have access to numerous DMA platforms, along with Paladyne’s order management and aggregated reporting platform that provides customised risk reporting and risk analysis.
Mark Salameh, Direct Access Partners’ director, sales and marketing, global prime services, has built and will continue to lead these operations. Prior to joining Direct Access Partners, Salameh was the president of the hedge fund technology firm Alden Technology Partners.
