As digital asset firms look to reach institutional investors, the largest players have realised the need for prime brokerage services and appear to have all made their moves at once.
Equities and fixed income financing rose in the first quarter at Goldman Sachs, as hedge funds increase balances.
Market volatility sparked by the COVID-19 pandemic has resulted in a significant increase in prime brokers asking for more collateral from hedge funds.
IG said it’s offering will give hedge fund managers and family offices access to the full spectrum of prime brokerage services.
As Prime Brokerage survey launches, increased flexibility takes account of conditions imposed by the coronavirus pandemic.
The Singapore-based bank will combine and align its custody and post-trade operations with the portfolio risk management and prime finance businesses.
The acquisition created a joint global treasury management solution, which has become a key area of modernisation for hedge funds.
BNP Paribas CEO Jean-Laurent Bonnafé says Deutsche Bank prime brokerage business transition is proceeding very swiftly, with restructuring costs expected to reach €100 million this year.
Takeover comes just weeks after GPP said it would shutter its prime brokerage business as profit margins were contracting.
Swaps trading/management and cash prime finance will be combined onto a single infrastructure with Nuvo Prime, as Societe Generale targets growth of business.