Last year was an odd one for the prime brokerage market. It started with Wall Street avoiding small hedge funds like the plague, and ended with a number of the largest prime brokers returning to the market in earnest.
It was late 2008 when former Bank of America chief executive Kenneth Lewis compared the dangers of prime broking to that of someone crossing a busy road to pick up a small coin - high risk, low reward. The titans of Wall Street - the well-established prime brokers - were content to
James talks about his trip to Chicago and some of the interesting topics that came up (including a look at disaster recovery demands). Then Anthony and James touch on ISDA's initial margin rules, with Phase 3 going live next year.Subscribe to Weekly Wrap emails