Saturday, 29 April 2017
Last updated 9 hours ago
Dec 6 2016 | 8:22pm ET
ING Capital Markets has launched a new cross-asset, synthetic prime brokerage platform designed specifically for hedge funds.
The new offering will be the industry’s only bespoke prime brokerage platform, the company said in a statement. It will provide global, cross-asset portfolio swap products offering the functionality and sophistication of a traditional prime brokerage service.
ING has traditionally offered its alternative investment management clients synthetic portfolio solutions through its legacy CFD platform. In its initial launch phase, the new platform will manage and execute all balance sheet, back office and administrative functions associated with derivative exposure to equities.
In the next phase, functionality will include fixed income and additional asset classes in line with clients' needs, ING said.
"We offer the flexibility of a multi-asset portfolio swap which is operationally efficient, streamlined and provides additional collateral and portfolio margin benefits," said Michael Baudo, regional head of financial markets Americas and global head of securities finance, in the statement.
ING Capital Markets is a U.S.-registered broker-dealer wholly owned by ING Financial Holdings Corporation. The firm provides securities sales and trading services across a wide range of financial markets products including Securities Finance, U.S. Rates and Credits, FX, Money Markets, Fixed Income sales and trading, and Equity Derivatives to ING's corporate and institutional clients.