AET in prime brokerage

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Can keep this pretty simple.

• Yes, under the ISDA Master Agreement, because it's built in (but it doesn’t really make much sense even there).
• No otherwise, largely because the one party who would need it is the prime broker itself and its counterparty (client), being a hedge fund will almost certainly not be in an AET jurisdiction. and the PB is relying also on.

The prime broker well may be, on the other hand - but unless the client gets charged for regulatory capital (hedge funds don't) it is better to keep the flexibility inherent in not closing out.

And the funds can pull all their positions on any day anyway.