BTIG, LLC is adding J.P. Morgan Clearing Corp. as a clearing agent and custodian for its prime brokerage platform, in addition to its current provider Goldman Sachs.
BTIGs prime brokerage division is a mid-market prime broker with more than 300 investment manager clients. BTIGs addition of a second custodial and clearing option for clients is a strategic enhancement, providing a multi-prime solution for clients who are growing rapidly and want to diversify their custodial counterparty risk.
We are very excited to add J.P. Morgan to our platform, says Justin Press, co-head of prime brokerage at BTIG. I cant think of two better custodial providers in the market. Both J.P. Morgan and GSEC have a long history in prime brokerage and both support the introducing broker market. Clients are often looking to add a second prime brokerage relationship, and having two premier custodians opens up new opportunities for BTIG and our clients. The addition of J.P. Morgan puts BTIG in a stronger position to be a long term resource for our clients.
Brian Petitt, co-head of prime brokerage at BTIG, adds: Being able to offer J.P. Morgan Clearing Corp. and Goldman Sachs Execution & Clearing as clearing and custodian options helps us stay ahead of our competition and provide the best possible solutions for our clients.
(CG)