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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

prime broker

The broker-dealer who maintains a record of the orders executed by several broker-dealers for a particular institutional or professional trader.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
"While Prime Brokers have been working furiously to protect their clients form the bulk of the recalls, there are very few rocks to look under for replacement stock borrows and short sellers will feel the full brunt of the new recalls over the next few weeks," Dusaniwsky wrote.
Founded in 2009 and headquartered in Cambridge, MA, oneZero provides mission-critical FX and multi-asset class liquidity, distribution, business intelligence and risk management solutions to the retail brokerage and institutional marketplace, including hedge funds, prime brokers and global banks.
Membership is open to active hedge fund managers/ professionals, ultra-high net worth investors, family offices, financial traders, investment bankers, academics, financial institutions, FOF's, foundations, allocators, as well as selected service providers including third-party marketers, data providers, prime brokers, administrators, auditors, lawyers, risk managers, and financial technology firms.
Thus, most of them decided that they would only be prime brokers to larger institutions.
Vibefin Tech is a Transaction reporting automation service serving retail brokers, prime brokers and any entity required to report for EMIR/ MiFIR and other regulations.
ADS Securities Prime-of-Prime offering has been developed to help these firms-even those that have Prime Brokers but still do not have the trading lines they are looking for because they may not meet the criteria in terms of size, flow, profitability or risk.
"We would like to extend our sincere appreciation to the fund's prime brokers Barclays Bank and Credit Suisse, and all our counter-parties that contributed to the result," he added.
Hedge fund manager OZ Management LP has been charged by the SEC with providing inaccurate trade data to four prime brokers, causing inaccuracies in the brokers' books and records and in data provided to the SEC in investigations.
Advent has more than 4,300 customers including asset managers, hedge funds, fund administrators, prime brokers, family offices and wealth management advisory firms, located across more than 50 countries worldwide.
Designed for multi-manager allocation platforms, separately managed accounts, clearing firms, prime brokers, family offices and proprietary trading shops, LiquidFIRM provides a macro look at total market exposure across all accounts in real-time, with the ability to drill into the results at the client, asset class, or issue level.
Many hedge fund and CTA managers express dissatisfaction with their prime brokers' inability to offer technologies to help them more effectively manage risk and assist them with managing and growing their business, new research reveals.