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Prime Broker |
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Prime broker This refers to a large financial institution that offers services to large institutional clients or hedge funds. It is possible for a firm to have more than one prime broker. Importantly, the firm is not obligated to all of its business through the prime broker. The prime broker offers a variety of services which includes but is not limited to execution of trades, settlement, financing and custody. Prime Broker A broker-dealer on an exchange who maintains records and provides brokering services, including leveraged transactions, for other broker-dealers, money managers, hedge funds, and other major investors that trade on the same exchange.
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