Prime brokerage business growing as large investors diversify away from traditional banks.
One phenomenon we’ve written about recently is the emergence of industry-specific prime brokers, including in the FX world, as larger investors either leave their traditional / big-bank brokers, or just look to diversify away and create alternative trading avenues.
Financial software provider SunGard has now come out with a management tool geared for these independent prime brokers, called Apex Prime, aimed at helping these firms to efficiently manage trade exceptions, view security and cash positions in real time, support flexible margining rules, calculate financing costs and generate consolidated billing and automated client reporting.
In the FX world, this phenomenon has led to the launch and growth of new FX-specialist prime brokers, most notably Boston Prime, Leverate spinoff PIM Prime Investments, and TopFX.
For the full SunGard press release click here.
For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.