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Credit Suisse said in November it would exit prime brokerage, which provides financing, custody, clearing and advisory services to hedge funds and institutional clients. Since then, rivals have ...
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.
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 ...
On March 26, 2021, banks offering prime brokerage services to Archegos started to liquidate billions of dollars' worth of various stocks after it had failed to meet a margin call. The stocks were reportedly tied to the total return swaps held by Archegos.
Newedge Group is a global multi-asset brokerage that was formed in 2008 from the merger of Fimat and Calyon Financial, the brokerage arms of French financial companies Société Générale and Credit Agricole, respectively. It offers execution, clearing, and prime brokerage services.
Credit Suisse said in November it would exit prime brokerage, which provides financing, custody, clearing and advisory services to hedge funds and institutional clients.
Bloomberg earlier reported that Citi faces a loss of up to $180 million related to risky foreign-exchange bets. Citi and the hedge fund are in talks on how the positions should be valued, the ...
The firm engaged in prime brokerage and broker-dealer activities and was headquartered in New York City, occupying the entire 34 stories of 250 Vesey Street. The company agreed to be acquired by Bank of America on September 14, 2008, at the height of the Financial crisis of 2007–2008, the same weekend that Lehman Brothers was allowed to fail.