Prime Brokerage

The two US banks have been relatively unscathed by the blow-up of hedge fund Archegos Capital in March, which resulted in losses of over $10 billion for Wall Street.

Participants in The TRADE and Global Custodian's recent outsourced trading webinar answer some of the questions from the audience.

Former hedge fund executives joins Cowen's global capital introduction team, where it seeks to expand its coverage in Asia-Pacific and the US.

With the global pandemic radically changing the way hedge funds operate, combined with the high profile collapse of Archegos Capital, Mark Aldoroty of BNY Mellon's Pershing explains how prime brokers will have to stay on top.

The Swiss bank will undergo an extensive review of the business where it will focus on derisking and resizing its hedge fund servicing unit. 

The incident further highlights the dangers of over-leveraging hedge funds and could force some prime brokers to recognise the excessive risk that can occur. 

Cantor replaces BNP Paribas as Layton Road’s main prime broker client, with the French nearing the completing of its integration with Deutsche Bank’s business.

A recent survey from Credit Suisse Prime Services found allocators are increasingly using hedge funds to invest in private markets.

BNP Paribas’ expanded prime services business will launch after the integration of Deutsche Bank’s hedge fund clients is completed this year.

Custodians and prime brokers have sought to unlock the use of ETFs as collateral in securities lending transactions.