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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.
Triad Securities Corp. was founded in 1976 as a full-service agency only discount brokerage firm. Triad’s products and services comprise three categories: prime brokerage, the New Issue Service, and U.S. and international equity and fixed income execution.
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.
Credit Suisse said in November it would exit prime brokerage, which provides financing, custody, clearing and advisory services to hedge funds and institutional clients.
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 ...
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 ...
Cantor Fitzgerald, L.P. is an American financial services firm that was founded in 1945. It specializes in institutional equity, fixed-income sales and trading, and serving the middle market with investment banking services, prime brokerage, and commercial real estate financing.
Citadel LLC (formerly known as Citadel Investment Group, LLC) is an American multinational hedge fund and financial services company. Founded in 1990 by Ken Griffin, it has more than $63 billion in assets under management as of June 2024.