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Prime brokerage is the generic term for a bundled package of services offered by investment banks, wealth management firms, and securities dealers to hedge funds which need the ability to borrow securities and cash in order to be able to invest on a netted basis and achieve an absolute return.
Prime brokerage – An exclusive type of bundled broker service specifically meant to service the needs of hedge funds. Private banking – Private banks provide banking services exclusively to high-net-worth individuals. Many financial services firms require a person or family to have a certain minimum net worth to qualify for private banking ...
In the United States, a primary dealer is a bank or securities broker-dealer that is permitted to trade directly with the Federal Reserve System ("the Fed"). [7] Such firms are required to make bids or offers when the Fed conducts open market operations , provide information to the Fed's open market trading desk, and to participate actively in ...
Citigroup Inc <C.N> is combining its stock trading business with its prime brokerage unit, which caters to hedge funds, private equity firms and other investors. The New-York based bank will also ...
Citi and the hedge fund are in talks on how the positions should be valued, the report said. Citi declined to comment on the reported losses. Citi reorganises prime brokerage unit
Citi Named Best Prime Broker for Consulting Services and Best Hedge Fund Administrator by HFMWeek NEW YORK--(BUSINESS WIRE)-- Citi received two coveted accolades at the 2012 HFMWeek Hedge Fund ...
The traditional service of underwriting security issues has declined as a percentage of revenue. As far back as 1960, 70% of Merrill Lynch's revenue was derived from transaction commissions while "traditional investment banking" services accounted for 5%. However, Merrill Lynch was a relatively "retail-focused" firm with a large brokerage ...
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...