Prime brokerage agreement
Hedge Funds & Prime Brokerage Anatomy™
An agreement whereby a prime broker provides prime brokerage services to a client (usually a hedge fund). Unlike for swap]]s, stock loan and repos, there is no industry standard PB agreement. Each broker has its own form, which provides a window into the soul of that organisation, as well as catering for the different types of prime brokerage business (an equity prime broker, FX prime broker and a fixed income prime broker are quite different beasts).