CGS-CIMB Securities launches prime services platform for boutique funds
CGS-CIMB Securities (CGS-CIMB) has launched a new full-service prime services platform designed to service the rapidly growing smaller funds sector, including hedge funds, family offices, proprietary traders, asset managers and broker dealers.
It extends CGS-CIMB’s prime services to smaller funds of up to USD50 million and provides them with services that are normally reserved for bigger funds. Drawing on the resources of CGS-CIMB’s global brokerage business, the service offers access to Asia’s growing markets with products including equities, fixed income, securities financing, exchange-listed futures, stock borrowing and lending, as well as custody, clearing and settlement solutions.
Flexible account structures enable synthetic access to restricted markets and hard-to-borrow securities as well as access to cash markets with optimised lending and solutions for financing and asset protection. Clients benefit from flexible collateral types and rules-based margining, including a daily single margin call across all products. The proprietary Prime Portal give clients the ability to manage balances as well as customised reporting on positions, balances and margins.
The Prime Services business is staffed by a team of experienced professionals based in Singapore, with colleagues in London and Australia offering follow-the-sun global service throughout the trading day. The team includes: Nigel Pitt, Head of Prime Services (Europe); Stephen Bower, Director, Head of Sales, Prime Services (Europe); Joelle Wang, Director, Prime Services (Asia); Ricky Qiu, Associate Director, Transition, Prime Services; and Stephen Luu, Director, Prime Services (Australia).
Ade Olopade, Managing Director, Prime Services, says: “The commitment to build a boutique prime services business that offers smaller funds the same suite of services available to their larger counterparts is an exciting prospect at a time when Asia’s markets offer global investors great growth opportunities. This is integral in today’s world as Asia-based investors are increasingly seeking partners for global access. Enabled by a nine-member team, CGS-CIMB’s unparallelled resources, know-how, and proprietary technology give us a compelling offering for clients in this space.”
The Prime Services platform has completed a comprehensive build-out and soft launch process since June 2019 and is fully operational, with onboarding of new clients under way.