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 ?
The recognition was based on a peer review system, whereby Hedgeweek's readers, including institutional and high net worth investors, as well as hedge fund managers and other industry professionals at fund administrators, prime brokers, law firms, custodians, and advisers, selected the top performer in a series of categories.
Pershing Prime Services, the New Model Prime Broker, delivers a comprehensive suite of prime brokerage solutions, providing stable counterparty strength, extensive access to lendable securities, alternative sources of finance, dedicated client service, robust reporting tools, global execution and custodial solutions through the integrated platform of BNY Mellon.
The Harmony network now comprises over 80 executing brokers and 15 prime brokers globally, for give up processing, allocations and T-0 matching with buy side firms, facilitating tighter risk controls and improved client servicing.
In addition to receiving Best North American Prime Broker last year, Pershing earned top honors as the Best Prime Broker at the inaugural US Hedgeweek Awards ceremony in June of 2011.
The information flows resulting from unmatched trades and trade allegations in the market have strained capacity in the middle and back offices, adding risk for all counterparties, particularly prime brokers.
Gloss' new capabilities allow prime brokers to offer full settlement services to buy-side investment firms and hedge funds, automating security and currency transaction processing, enabling firms to manage books and records in real-time and facilitating efficient asset servicing.
The increase reflects both growth in overall hedge fund assets under management (AUM) as well as lower levels of borrowing from prime brokers.
The new arrangement will expand the range of brokers and institutions that can use existing prime broker credit relationships to access Advanced Markets' top-tier bank liquidity.
BANKING AND CREDIT NEWS-April 20, 2011--Swiss UBS loses Asia Pacific prime broker leader(C)2011 M2 COMMUNICATIONS http://www.
NEW YORK -- Citi today announced its Prime Finance division was ranked second overall by hedge fund firms with at least $1 billion in assets in the 2009 Prime Broker Survey conducted by Institutional Investor magazine, a move up from Citi's 2008 position of number three.
Premiere New Prime Broker nominated for Best Small Prime Broker of the Year and Best Capital Introduction Program for Small Prime Brokers by HFMWeek
Global Banking News-2 July 2009-Credit Suisse and Deutsche Bank top prime broker survey(C)2009 ENPublishing - http://www.