INSTITUTIONALLY MANAGING YOUR TRADING RELATIONSHIPS Previously published in Wells Fargo Prime Service’s Industry and Regulatory Updates, October 2018 edition Is it really that important to spend time and money negotiating the terms of my trading and financing agreements? Why? It’s really all about relationships, isn’t it? Are some terms more important than others? On a…

CUSTOMER’S RIGHT TO THE RETURN OF ASSETS HELD IN PRIME BROKERAGE ACCOUNTS Due to recent market events, I have been fielding very similar calls from clients and others regarding a prime brokerage customer’s right to the return of their securities and cash held in their prime brokerage accounts. They want to know if the PB must…

ISDA PUBLISHES DF PROTOCOL EXTENSION AGREEMENT LINKING DODD-FRANK PROTOCOL TO EMIR PROTOCOL The European Market Infrastructure Regulation (“EMIR”) is a comprehensive European Union regulatory regime created to increase the stability and oversight of European OTC derivatives trading. EMIR applies generally to European entities trading in OTC derivatives, including trading activities with non-European counterparties. As part of…

DEVI’S CORNER: ‘INSTITUTIONAL’ WHEN AUM IS LESS THAN $500M The buzzword when investors are conducting due diligence on a hedge fund today is “Institutional.” Funds strive to appear institutional when they present their back office operations to investors. Investors meet with hedge funds to determine if the manager is institutional enough to entrust with their…

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