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Prime broker: Difference between revisions
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===Why prime brokers do it=== | ===Why prime brokers do it=== | ||
===What prime brokers | ===What prime brokers don’t do=== | ||
*'''Act as {{tag|PB administrator}}''': While they look after assets, prime brokers | *'''Act as {{tag|PB administrator}}''': While they look after assets, prime brokers don’t calculate {{tag|NAV}} (that's the {{tag|PB administrator}}’s job) | ||
*'''Act as {{aifmdprov|depositary}}''': [[PB]]s, which tend to be situated in London, or New York, generally cannot act an official {{aifmdprov|depositary}} for {{tag|AIFMD}} purposes (though they may get delegated the safekeeping role and may act as a {{aifmdprov|depo-lite}}) | *'''Act as {{aifmdprov|depositary}}''': [[PB]]s, which tend to be situated in London, or New York, generally cannot act an official {{aifmdprov|depositary}} for {{tag|AIFMD}} purposes (though they may get delegated the safekeeping role and may act as a {{aifmdprov|depo-lite}}) | ||
*'''Act as an [[executing broker]]''': They | *'''Act as an [[executing broker]]''': They don’t themselves work equity orders for their clients (though their compadres across the [[Chinese wall]] in the equities trading division at the same investment bank almost certainly will) | ||
===Not to be confused with=== | ===Not to be confused with=== | ||