Equiti Capital onboards NatWest Markets as another Prime Broker

Equiti Capital, a subsidiary of Equiti Group, has revealed that its FX Desk has appointed NatWest Markets as another Prime Broker.

Equiti Capital’s FX Desk provides liquidity to the buyside through an agency model.

Following the recent growth of its FX Desk and the need of multiple Prime Brokers to diversify risk, Equiti Capital went to market in 2020 to appoint a second prime broker. NatWest Markets emerged as a natural choice with their flexible approach, expansive credit access and dedicated and professional support teams.

Benedict Sears, Head of Equiti Capital’s FX Desk, commented:

Benedict Sears, Equiti Capital

Benedict Sears
Source: LinkedIn

NatWest Markets offers versatile solutions that deliver a quicker time to market, expediting the process by which we establish lines of credit when facing Asset Managers, Family Offices, Hedge Funds, and Local Banks.

Onboardign NatWest Markets will facilitate Equiti Capital FX Desk’s ability to provide liquidity in FX derivatives including NDFs, forwards, swaps, vanilla and exotic options.

Equiti Capital onboards NatWest Markets as another Prime Broker

Marcus Butt, Head of Global FX Prime Brokerage at NatWest Markets, said:

We are very pleased that Equiti Capital have recognised our PB solutions as market leading and are looking forward to supporting Equiti Capital’s continued growth.

Equiti Capital FX Desk’s voice execution offering has also contributed to the continued growth with its macroeconomic insights, aiming to provide a service for Funds than that of what they expect from their bank counterparties due to reductions across bank Sales & Trading desks.

Benedict Sears added:

As a desk we have been heavily working on building out our electronic CLOB (Central Limit Order Book), we also have found great success in matching off the interest of clients in the Options market which allows the firms to get in and out of positions around mid, thus reducing the spreads they pay. We work hand in hand with local market makers trying to match off the interest they have with those of our buyside clients, resulting in unique axes and pricing.

He continued:

We find clients are often looking for help in executing large orders, with an emphasis on reducing market impact. Our Desk is able to help clients with this while maintaining a level of market access which would be unfeasible to maintain for a Buyside firm in the fragmented OTC FX market.

Equiti Capital’s FX Desk clients engage with the the FX market for many reasons – from banks hedging corporate flow, equities and fixed income funds who hedge their FX exposure, to those taking proprietary FX risk.

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