Wednesday, 24 December 2014
Last updated 10 hours ago
Jan 14 2010 | 6:50am 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.