Direct Access Partners Buys EFX Prime Services

Sep 13 2010 | 3:00pm ET

Institutional agency-only brokerage firm Direct Access Partners is expanding its prime brokerage unit with the acquisition of EFX Prime Services, a division of First New York Securities.

The deal integrates the EFX Prime Services team into Direct Access Partners. Brian Stutman joins as managing director of global prime services, Andrew Saunders will lead the capital introduction program, and Geoff Webster joins the prime operations group.

According to the firm, the new team complements Direct Access Partners’ capital raising group, and provides hedge fund clients with an integrated capital introduction and capital raising platform.

“The addition of the EFX Prime team adds significant expertise, strong client relationships and a successful capital introduction program to our global prime effort,” said Ben Chinea, CEO of Direct Access Partners. “Working with our proven capital raising team, Direct Access Partners is optimally positioned to address the entire spectrum of hedge fund clients—including start-ups, emerging funds and established managers.”

Direct Access Partners is an independent agency-only brokerage firm offering clients complete anonymity and non-conflicting multi-asset execution in more than 100 markets over an open architecture trading platform. The firm has offices in New York, Boston and Miami.

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