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Market volatility and high volume have exposed weaknesses in trading systems and technology offerings. This has led to reductions in service and increased down time in trading offerings. Providers with the ability to overcome these challenges have stood in good stead with clients.
Buoyancy in the hedge fund industry, following a year of strong performance, bodes well for the prime brokerage business. Numerous new funds are being launched and prudent prime players are benefiting from the renewed interest in the asset class.
Transparency, trust and a clear understanding of the prime broker’s risk management process can help managers build long-term sustainable relationships with their providers. This is especially critical among boutique and mini-prime brokers. These firms are meeting a growing need among emerging hedge fund managers as the traditional providers step further away from this part of the industry.
Although it ushered in a whole host of new challenges, when it came to client and audience engagement, the Covid-19 pandemic levelled the playing field between the big banks and smaller players in the prime brokerage market. It encouraged dialogue and boosted transparency. Further, in view of the expected growth in outsourced trading in Europe and Asia, ensuring a good fit between providers and clients has never been more relevant.
“In a way, the pandemic helped us,” explains Leor Shapiro, Global Head of Capital Intelligence, Jefferies. “As it relates to my team in terms of events, it meant we could
By A Paris – Just four months into 2021 and the hedge fund industry had already experienced two major events affecting prime brokerage – the GameStop run and the Archegos collapse. Though these incidents may have rocked some firms, others have held strong and are almost appreciative of the greater scrutiny resulting from such episodes.
“As a result of the GameStop experience, prime brokers have been forced to be far more vigilant with their clients’ exposure to names they were trading,” notes Jack Seibald, Managing Director and Global Co-Head of Prime Brokerage & Outsourced Trading, Cowen. “We changed our margin and risk rules
Northern Trust has launched the next iteration of its Rec Dashboard, a workflow tool that provides a comprehensive, real-time view of breaks and reconciliations in trade activity between asset managers and other institutions.
The enhanced tool optimises the client experience, eases collaboration and enables scalability to meet rising demand for real-time transparency into the reconciliations process.
Rec Dashboard is hosted within Omnium, a Northern Trust middle- and back-office technology platform for fund administration. To optimise communication and collaboration between the manager and fund administration teams as breaks are reconciled, Rec Dashboard provides Omnium users with data visualisation capabilities and more
Blockchain platform Lohko has teamed up with London-based tech firm Mattereum to launch a new ownership model of physical goods that will enable verifiable gold non-fungible tokens (NFTs) to be traded on the blockchain and attached to carbon offsets.
Read the full story at Institutional Asset Manager…
Linklaters has launched MFNiQ, a new tool built by the firm’s investment funds practice, technology and innovation teams in collaboration with iManage to automate the generation of ‘most favoured nation’ side letter matrices, reducing a task that could take several days to, in essence, the push of a button.
Read the full story at Private Equity Wire…
Macrobond, a provider of global economic, aggregate financial and sector data for finance professionals, has launched a Web API data feed to give customers direct access to millions of data points in real-time and on-demand.
Read the full story at Institutional Asset Manager…
Nikhil Kamath and Richard Pattle, Co-founders of True Beacon, an Indian asset management company, have launched the first operational Alternative Investment Fund (AIF) in Gujarat International Finance Tec-City (GIFT City).
True Beacon Global, a Fund for international strategic investors, will provide access to Indian capital markets with high levels of transparency, coupled with zero management fees and a globally competitive tax regime.
True Beacon serves over 250 ultra high net worth and high net worth individuals in India, and is headquartered in Bangalore. The company’s flagship Fund, True Beacon One, delivered a 32 per cent outperformance of the Indian equity
