Prime Brokerage

The stalwart of Morgan Stanley's industry-leading prime brokerage business will retire after serving over 30 years with the US firm. 

The mounting cost of regulation and capital requirements, coupled with the significant drop in new hedge fund launches, could pose an end to the mini-prime broker business.

The firm will begin an orderly wind-down of the business, which is anticipated to take up to 12 months to complete.

Citi merged its equities, prime brokerage and securities services businesses into one unit in July, with an aim to capture greater market share.

Citi aims to capture increased business from existing and prospective hedge fund clients by offering a full coverage of pre- and post-trade services.

The adoption of AccessFintech solution will help the Swiss bank avoid errors in the settlement process and comply with the upcoming settlement discipline regime.

Deutsche Bank’s transition of prime and electronic equities clients to BNP Paribas moves forward after both banks receive approval for the deal.

Sponsored clearing services among factors leading to a major rise in aggregate cleared repo and reverse repo volumes.

Deutsche Bank is transitioning its prime brokerage and electronic equities clients to BNP Paribas as part of a major restructure.

Group CEO of Barclays, Jes Staley, says the bank is continuing to see gains in prime brokerage after increasing prime balances in the third quarter.