Advanced Program of Prime Brokerage

Price: $995   Register now

Recommended that you register at least two weeks in advance.

Course Features

  • Course date:12/20/2019
  • Course Duration: 1 Day
  • Level: Advanced
  • Prerequisites: Knowledge of PM
  • Method: Live & Virtual
  • Venue: MicroTek
  • Time: 9:00 am – 5:00 pm
  • Dress Code: Business Casual
  • Category:
  • Certificate: Yes
  • CPE Credits: 7
  • Course Code: 605

US Prime Brokerage and the Associated Custodian and Clearing Services

Prime brokerage performance has been challenged in 2020. Today, hedge funds serve multiple functions—they provide access to securities many investors can’t access or don’t have the expertise to service or invest in, like distressed debt or exotic derivatives. They increasingly offer factor-driven or smart beta solutions. They may protect on the downside or in times of acute market stress, smooth volatility of the overall portfolio, or provide additional diversification. But a diverse set of factors may be converging to drive consolidation in some corners of the PB industry. All funds have to contest with the rising cost of systems, infrastructure, and institutionalization. There are increased regulatory reporting or compliance requirements (like Form PF), a growing need for robust cyber defense programs, and a general demand to keep pace with the evolution towards more institutional infrastructure.

The heightened overall cost of doing business comes at a time when some managers struggle to post consistent performance, and alongside an explosion of lower-cost alternatives that claim to provide easier routes to access certain asset classes. This training will prepare you for the evolving hedge fund service environment.

Custodian model (indirect?) for US Securities

US clearing models – continuous netting?

The business model of US clearing firms and that of prime brokers

Other clearing facilities for institutional investors

Prime Brokerage

Evolution of US Prime Brokerage

Regulation of US Prime Brokerage

Size of US Prime Brokerage

Business Model of US Prime Brokerage

The trend of US Prime Brokerage after the crisis

Fund Administration

Accounting (Portfolio valuation, trading report)

Compliance statement service

Investment analysis and advisory service

Key risks and preventative measures

How to deal with service mistakes

Custodian Bank

Business models of US Custodian banks

Services of US Custodian banks

Overseas custodian services of US Custodian banks

Tax solution for fund investment

Case Studies

How the following plays work together and ensure the efficiency of the fund service:

  • Fund Manager
  • Broker/dealer
  • Fund Administrator
  • Custodian Bank


  • Sol Steinberg is an  OTC Markets Subject Matter Expert and specializes in Risk Management, OTC derivatives, Market structure, Collateral, Trade Lifecycle, Valuation, Financial Technology Systems, Strategic Development, and Monetization.   Sol is the founding principle of his firm, OTC partners. OTC partners is a boutique value add firm that specializes in research, content, development.  Before …
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