prime brokerage services
84a package of services provided under a prime brokerage agreement which gives a prime brokerage firm a right to use safe custody assets for its own account and which comprises each of the following:
- (a) custody or arranging safeguarding and administration of assets;
- (b) clearing services; and
- (c) financing, the provision of which includes one or more of the following:
- (i) capital introduction;
- (ii) margin financing;
- (iii) stock lending;
- (iv) stock borrowing;
- (v) entering into repurchase or reverse repurchase transactions;
and which, in addition, may comprise consolidated reporting and other operational support.