Aikman When Prime Brokers Fail

The Unheeded Risk to Hedge Funds, Banks, and the Financial Industry
1. Auflage 2010
ISBN: 978-0-470-87905-4
Verlag: John Wiley & Sons
Format: PDF
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 304 Seiten, E-Book

Reihe: Bloomberg

An informative primer on the new landscape of leading prime brokers
Before the recent financial crisis, both regulators and marketparticipants disregarded the complex and dangerous nature of therelationship between prime brokers (the banks) and their clients(the funds). In When Prime Brokers Fail, J. S. Aikmanexamines the convoluted structure of this relationship, the mainparticipants, and the impact of the near collapse of primebrokerages on the financial world.
Filled with in-depth insights and expert advice, When PrimeBrokers Fail takes a close look at the unheeded risks of primefinance and lays out the steps required for managers to protecttheir funds and bankers to protect their brokerages.
* Examines the challenges, trends, and risks within the primebrokerage space
* Discusses the structural adjustments firms will need to make toavoid similar disasters
* Analyzes the complex relationship between hedge funds and theirbrokerages and the risks that multiply in extraordinarymarkets
* Covers new ways to manage an inherently risky business and theregulations that may soon be introduced into this arena
Engaging and informative, this timely book details theintricacies and interdependencies of prime brokerages and the rolethat these operations play in our increasingly dynamic financialsystem.

Autoren/Hrsg.

Aikman, J. S.

Inhaltsverzeichnis

Acknowledgments ix
PART I The Business
Chapter 1 Extraordinary Markets 3
Chapter 2 Fundamentals of Prime Finance 27
Chapter 3 Strategy and Opportunity 41
PART II The Players
Chapter 4 Hedge Funds 55
Chapter 5 Hedge Fund Managers and Investment Advisers 99
Chapter 6 Prime Brokerages 117
Chapter 7 Prime Brokerage Business Model 135
Chapter 8 Securities Lending and Financing 165
Chapter 9 Executing Brokers 185
PART III The Risks and Rewards
Chapter 10 Life Cycles 199
Chapter 11 Risk Management 205
Chapter 12 Legal and Compliance Issues 213
Chapter 13 What the Future Holds 235
Appendix A Prime Broker List 255
Appendix B List of Securities Lenders 257
Appendix C Prime Broker Due Diligence Questionnaire 259
Appendix D Useful Links--Prime Finance 265
Bibliography 267
Glossary of Useful Terms 277
About the Author 281
Index 283

Über Autor(innen)

J. S. Aikman is a management consultant and lawyer advising managers and financial institutions. He also lectures on hedge funds and investment banking at the University of Toronto. Previously VP and counsel for a bulge-bracket investment bank in London, Aikman has broad international experience in alternative investments and has served as adviser to many successful entrepreneurial ventures. Aikman completed his MBA at Oxford University. He may be reached at [e-mail].