Direct Access Partners Taps Stutman To Lead Prime Unit, Adds Enhanced Services

Mar 1 2011 | 8:40am ET

Direct Access Partners has appointed Brian Stutman as managing director and head of the firm’s global prime services unit, which now provides comprehensive custodial, trading and capital introduction service to small- and mid-sized hedge funds.

Direct Access Partners is a correspondent broker to Goldman Sachs Execution and Clearing, and through its relationship with Pershing, a unit of Bank of New York, clients may choose among a broad selection of DMA platforms including Knight Trader and Redi+.

“With these enhancements and new leadership, the Direct Access Partners Global Prime Services platform is on par with our world-class institutional trading business,” said Ben Chinea, CEO of Direct Access Partners. “Prime clients gain access to our value-added services including corporate access, commission management and access to independent research.”

Stutman added, “The Direct Access Partners Global Prime Services is perfectly suited to partner with small and mid-sized hedge funds. We have the trading expertise of the NYSE floor, upstairs and DMA platforms, operational expertise combined with unparalleled marketing acumen and relationships of our Capital Alternatives Group.  Our partnership approach will help our clients reach their marketing, operational and trading objectives.”

Last September, Direct Access Partners began the expansion its prime brokerage unit with the acquisition of EFX Prime Services, a division of First New York Securities.

Direct Access Partners clears and executes in 115 international markets. The firm has offices in New York, Boston, Miami and a significant presence on the NYSE trading floor.

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