UK prime broker boosts institutional research offering

UK prime broker boosts institutional research offering

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Boutique prime broker Global Prime Partners has linked up with an online institutional research firm ahead of new rules requiring fund managers to unbundle research and execution payments.

The UK-based broker has entered into a deal with RSRCHXchange which will allow its hedge funds, family office and asset manager clients access to research from over 130 providers.

Sean Capstick, GPP's head of prime brokerage, said the research is available in one place, with payments made easy, unbundled and MIFID II compliant.

MiFID II, entering into force for EU investment firms in 2018, contains rules relating to inducements and conflicts of interest.

One of the changes it will bring is the so-called “unbundling” of costs in a bid for full transparency, separating out trading commissions and research which are currently paid for in one lump sum. 

RSRCHX was launched in 2015 in a bid to enable asset managers to buy research in a more efficient, transparent and auditable way.

Capstick joined GPP last year and was previously European head of prime brokerage at Bank of America Merrill Lynch.

He says the partnership with RSRCHX enhances GPP's offering to fund managers and helps them with the core role they perform – generating returns for their investors.

GPP offers trade execution, margin financing, securities lending, clearing and custody services.

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