With the broader hedge fund industry facing multiple challenges around rising costs, squeezed profits, and a shifting regulatory backdrop, the prime brokerage sector will need to juggle future disruptions and sweeping changes in client activity as a result of the coronavirus pandemic.
BEQUANT, a global provider of cryptocurrency and digital asset services for professional traders and institutions, has launched BEQUANT PRO, a prime brokerage platform.
JonesTrading Institutional Services has named Andrew (Andy) Volz as Chief Operating Officer, to oversee the global operations of the firm, across all divisions. Volz reports to Alan Hill, JonesTrading’s CEO.
As more investors become comfortable outsourcing functions to third-party providers, the importance of excellence in this space is coming into sharper focus. In a part of the industry where services can risk becoming commoditised, providers are keen to demonstrate the high calibre solutions they offer. Outsourcing can alleviate a number of pressures off investment managers, however the service provided needs to be of the highest quality.
Triad Securities, a full-service, agency-only brokerage firm, has partnered with BestEx Research Group to provide Triad’s clients with access BestEx’s newly-launched, next-generation algorithmic trading platform.
Cowen has entered into an agreement to cooperate with Global Prime Partners (GPP) to transition GPP’s International Prime Brokerage business to Cowen.
Asia-Pacific region broker Straits Financial Services is now providing prime-of-prime (PoP) brokerage services to Spotex, a developer of modular, technology systems for foreign exchange brokers and institutional ECN operator.
By Lisa Lewin, Business Development, Prime Services, BNY Mellon Pershing – We understand that our hedge fund clients face challenges when marketing to the RIA community. Providing a look inside the mind of the adviser is just one of the ways the Prime Services team at BNY Mellon’s Pershing can help fund managers build strategies to help grow their businesses.
Cowen has dramatically changed its presence in Europe and is aggressively investing in all of its businesses while the likes of Deutsche Bank, Credit Suisse, and others continue to downsize their operations. In the Prime Brokerage and Outsourced Trading businesses, the firm is planning meaningful expansions for 2020 and beyond. In the former, this effort is aimed at filling the void being created by others, while in the latter the commitment is in response to a sharp increase in demand for such services.
According to industry data provider Coalition, the world’s 12 largest investment banks produced USD18.3 billion in prime services revenue last year, up 8.3 per cent on 2017 but despite this the PB arena remains as gladiatorial as ever.