FX Prime Brokerage and Hedge Funds: assessing the value proposition

FXPB expectations: views from the client-side

A major driver for growth in FX prime brokerage has been the hedge fund community, many of whom are developing FX as a strategy Frances Maguire looks at what hedge funds want from their prime brokersWith FX increasingly being traded as an asset class by hedge funds, banks are queuing up to offer FX prime brokerage and even slashing fees to lure hedge fund clients. Commitment to the prime brokerage market has always been measured by technology investment. But in five short years, it seems that hedge funds are taking connectivity, market access and the efficiency of automation for granted and demanding more effective and sophisticated reporting, for their clients, and increased account control and administration by the prime broker to enable them to focus less on processing and more on investment. But most importantly, hedge funds are looking for smooth operations and a prime broker that can get the basics right.At the same time, banks are trying to differentiate themselves in an increasingly competitive...continued

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