Series 7: 14.2.4. Prime Brokerage Accounts

Taken from our Series 7 Online Guide

14.2.4. Prime Brokerage Accounts

Because hedge funds and other institutional investors use a number of brokers for trading, they sometimes open accounts with a prime broker. A prime broker does not engage in trading activity. Trading is done by the customer’s array of executing brokers. The prime brokerage is the place where all trades by the executing brokers are cleared and settled. With trad

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