First New York Jumps Into Prime Brokerage Game

Jan 14 2010 | 7:50am ET

There is a new prime brokerage player in town. Proprietary trading firm First New York Securities has formed a new unit aimed at servicing asset management firms.

The new unit, EFX Prime Services, will cater to small-to-mid sized hedge funds, providing them with multi-prime trading capabilities, direct market access and capital introduction. The new unit—which begins trading Feb. 1—is being led by Brian Stutman, who recently joined the firm from Lighthouse Prime Services.

“First New York is excited to announce the launch of EFX Prime Services. EFX Prime Services is a natural extension of our premier trading and risk management infrastructure,” said Donald Motschwiller, managing partner. “With over 200 principal traders in all asset classes, we understand trading and have worked with external managers for years.”

In addition to the new prime brokerage unit, First New York is also ramping up its existing EFX Capital platform, which allocates money to both emerging and established hedge fund managers.


In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...

 

FINalternatives Trending

From the current issue of