The exercise between Credit Suisse and Nomura's Instinet demonstrated the ability for firms to execute and settle US equities trades conducted throughout the day.
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.
In launching the service, the platform will allow for the simultaneous exchange of cash and securities between broker-dealers to settle US listed-equities trades.
Nomura's joint venture platform, Komainu, is aiming to create a cryptocurrency ecosystem fit for institutional investors.
Prime brokers are now stepping up their due diligence of hedge funds, becoming more forensic when looking to bring a hedge fund onto their balance sheet.
Highly regarded market structure expert to join RBC from BNY Mellon.
The introduction of Japanese funds onto the FX settlement service follows a multi-year effort to onboard the Japanese buy-side community to CLSSettlement.
JP Morgan welcomes multiple new additions to its agency securities financing team to lead the business globally.
Many institutional investors have held back from large-scale investing in cryptocurrencies, largely because of a lack of certainty around the storage and security of digital assets.
The appointment signals a bid to revitalise the business, two years after Nomura significantly re-sized its European prime brokerage unit.