prime broker


Also found in: Acronyms.

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.

prime broker

The broker-dealer who maintains a record of the orders executed by several broker-dealers for a particular institutional or professional trader.
References in periodicals archive ?
Prime brokers, banks, creditors and clients need to be part of a positive value chain and understand that brokers are now paid for the added value they bring to the transaction.
According to the agency, for nearly six years, ending in December 2013, OZ Management misidentified some trades in data provided to four of its prime brokers. While the data didn't affect trade settlement, it did cause the four prime brokers to inaccurately list approximately 552 million shares in their own books and records.
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.
A lot of prime brokers are now bank holding companies, and that puts a different view on the cost of capital, and the cost of doing these types of things.
Last week, Christopher Fawcett, chief executive of Fauchier Partners, said "prime brokers will begin to increase lending far sooner than people think".
The fund's prime broker is Credit Suisse and the administrator is Citco.
"There are a lot of boutique operations in the region -- five guys in a garage and a prime broker -- but we wanted to build a large asset management company, the best in Asia, with very specialized investment teams."
Firms must ensure that reconciliation breaks can be managed appropriately; Assess the impact of higher levels of disclosure required by SFTR on appropriate financing and prime broker businesses.
"All of the trades -- the purchases of offering shares and short sales -- cleared and settled in a Worldwide Capital master account at the firm's prime broker."
FNIB.co carries the hedge fund prime broker portal Albourne Village seal of approval.
Boutique multi-asset prime broker, Invast Global, has said that it has named a non-executive director.
The platform utilises a multiple prime broker credit model offering flexible means of access, including Java and FIX application programming interfaces and the Knight Direct graphical user interface, as well as an array of order types and FX algorithms.