Convergex’s Prime Brokerage business added new clients with a collective total of over USD1 billion in assets during 2016 and continues to see a steady increase in its international client base.
The company says that enhancements to its Prime Services product offerings, including expanding its futures execution and clearing services and adding fully-paid for lending capabilities, helped generate additional interest and growth from both the US and Europe.
The Convergex Prime Services team offers a range of services to its clients including opening and monitoring accounts, cross referencing securities and customised reporting capabilities. In addition, the team is focused on providing investors the ability to lend out and generate additional interest income on fully-paid-for or excess margin securities.
“Convergex has been seeing a steady increase in the number of European-based hedge funds looking for US prime brokers as they have found the full scope of our product offerings to be a safer and more cost-effective alternative,” says Doug Nelson (pictured), Convergex executive managing director and head of global clearing and prime services. “Convergex is focused on expanding its European presence through its global offerings and by providing a superior level of customer service in both the US and abroad.”
Convergex Prime Brokerage Services is a provider of integrated prime services to hedge funds, family offices, mutual funds, and registered investment advisors (RIAs). Its customised, high-end execution solutions include direct market access (DMA) platforms, multiple custody and clearing options, advanced pre- and post-trade analytics, access to securities lending providers, and capital introduction services.
