Prime brokerage sprung up around hedge funds in response to that industry’s distinctive pursuits, like leveraging and short selling. The prime broker lends money and securities for these activities, in addition to acting as custodian for the fund’s assets and keeping various kinds of records.
The aspect of service that voters found most important in prime brokerage was operations. Listed from most important to least important, the rest of the categories are client service, reporting and reporting technology, securities lending, trade execution and trading technology, financing, capital introduction and business consulting.
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