Friday, 19 December 2014
Last updated 6 hours ago
Aug 10 2012 | 2:08pm ET
Fidelity Capital Markets has launched a pricing tool that allows investors to compare and rank the performances and securities lending rates of a variety of prime brokers.
PB Optimize, as it’s called, is run by the firm’s own brokerage arm, Fidelity Prime Services and is the first tool of its kind to be offered by a prime broker.
Fidelity says the tool will help its hedge fund clients (at no additional charge) allocate their short portfolios among their prime brokers.
Thomas Tesauro, executive vice president of Fidelity Prime Services, said: “By sharing Fidelity’s lending rates alongside those of other prime brokers we are putting our clients and their investors first, empowering them to make more informed decisions. We expect this tool will ultimately drive market efficiency, benefiting hedge funds as well as investors.”
The PB Optimize tool provides managers with a broker scorecard, which allows clients to look at prime broker performance; a research tool to allow hedge fund clients to compare different securities; and cost analysis, which alerts clients to rate optimization opportunities across prime brokers, helping them to identify cost savings. The independent data on securities lending is provided by Markit.
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.