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Prime Brokerage

Prime Brokerage 2016
Prime Brokerage 2016

Thu, 22/12/2016 - 10:55

One of the unintended consequences of market regulation is that it has, to some extent, leveled the playing field. In what was once a fiercely competitive environment dominated by bank-owned prime brokers, in recent years a slew of new entrants has emerged, resulting in a number of different prime broker service models for both established and emerging hedge fund managers to consider.

The 'Prime Brokerage 2016' special report comprises 8 separate articles listed below, these can be read individually or as a sequence.

James Williams, Hedgeweek

Regulations drive increased competition

Thu, 22/12/2016 - 11:01

One of the unintended consequences of market regulation is that it has, to some extent, leveled the playing field. In what was once a fiercely competitive environment dominated by bank-owned prime brokers, in recent years a slew of new entrants has emerged, offering different service models for managers to consider.  »

Steve Sanders, Interactive Brokers

Enhancing transparency

Thu, 22/12/2016 - 11:06

Poor hedge fund performance over the past 18 months means that managers face continued fee pressure from investors. As a result, smaller and emerging hedge funds are becoming increasingly attracted to non-conventional prime brokers that are able to offer automated solutions for risk management, account management, trade execution and pricing.  »

William Capuzzi, Apex Clearing

Reimagining PB for the 21st Century

Thu, 22/12/2016 - 11:24

Apex is a proven leader in the clearing space and, having built a suite of sophisticated technology solutions over the years, has become the 'go-to' clearing firm for fintech firms. Indeed, it is currently the Custodian-of-Choice for tech-savvy firms like Betterment, Stash, Wealthfront and other robo advisors.  »

James Williams, Hedgeweek

Adapting PB model to support millennial hedge fund managers

Thu, 22/12/2016 - 11:35

The prime brokerage landscape is changing. The largest names still dominate in terms of market share, with Goldman Sachs and Morgan Stanley at the vanguard. But in a year when the established order has been overturned – think Brexit and the Trump election victory – the large investment bank-owned primes cannot afford to rest on their laurels.  »

Jack Seibald, Cowen Prime Services

Optimising outsourced solutions

Thu, 22/12/2016 - 11:40

The notion of what it means to be a prime broker is changing. Hedge funders are looking for solutions that go beyond the usual services such as trade execution and clearing, capital introduction, securities lending and margin finance. These solutions extend to middle- and back-office support, compliance support and outsourced trading services. »

Jerry Lees, Linear Investments

The allure of the boutique prime broker

Thu, 22/12/2016 - 11:51

"There is a clear message coming out of the marketplace that we are responding to. The smaller and medium-sized managers are being squeezed out of the tier one primes and have nowhere to go," states Jerry Lees, Chairman of Linear Investments. "There is a momentum in the marketplace forcing change. The impact of Basel III on banks' balance sheets means they cannot afford the infrastructure costs to continue supporting smaller hedge funds and this has created a gap." »

James Alexander, Invast Global

Offering flexible, tailored liquidity management

Thu, 22/12/2016 - 11:57

One aspect of the prime brokerage model that is emerging in parallel with technology advancement is greater agility and responsiveness to clients' needs. At traditional bank-owned prime brokers, regulatory reform is weighing on them and creating a degree of inertia, causing them to overlook their small and mid-sized hedge fund clients.  »

Sean Trager, Wedbush Securities

Enabling emerging managers

Thu, 22/12/2016 - 12:02

Wedbush Securities was founded in 1955 and is one of the largest providers of small and midcap equity research in the US. Three years ago, Sean Trager (pictured) set up the prime brokerage division within Wedbush Securities to cater specifically to smaller money managers. »

previousreports
Prime Brokerage 2015

Prime Brokerage 2015

Thu, 17/Dec/2015 - 09:44

Hedgeweek Special Report – Prime Brokerage 2012

Prime Brokerage 2012

Tue, 11/Dec/2012 - 14:37

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