Ed Hulina is Managing Director, Foreign Exchange, at UBS in London,and is the head of FX prime brokerage services and FX marketing at the bank.
Ed Hulina is Managing Director, Foreign Exchange, at UBS in London,and is the head of FX prime brokerage services and FX marketing at the bank.

FX Prime Brokerage: beyond electronic messaging

Ed Hulina believes that providing an effective and compelling FXPB offering requires going beyond electronic messaging.

First Published: e-Forex Magazine 14 / FOCUS / April, 2004

There is a lot of attention focused on the topic of FX prime brokerage these days. Much of the focus is on the industry drive to furthering automation of give-up messaging. However, providing an effective and compelling FX prime brokerage offering requires going well beyond electronic messaging.A bit of backgroundFor those not familiar with FX prime brokerage (FXPB), a bit of background may be necessary. FXPB is aimed primarily at investors who require operational and/or collateral efficiencies, where the prime broker (PB) acts as a central counterparty to all the client’s transactions. The PB holds any necessary collateral required for trading with multiple counterparties, and in turn extends credit lines to the client with a number of banks that the client wants to trade with (the “executing banks”). The PB effectively becomes the central back-office with which the client interacts, so is expected to provide a number of premium operational services, such as communicating directly with the...continued

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