New prime brokerage mandate for BofA Merrill Lynch
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New prime brokerage mandate for BofA Merrill Lynch 14 August 2013London Reporter: Georgina Lavers
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Bank of America Merrill Lynch has secured a new mandate as the main prime broker for CFH Clearing.
The London-based firm will continue to work with UBS as a prime broker, predominantly for precious metals.
BofA Merrill Lynch was selected following a rigorous RFP process. Its strong service model, competitive pricing and speed in which it on-boards were particularly impressive, according to CFH Clearing.
Lars Holst, CEO and co-founder of CFH Clearing, said: ““Our recent name change from CFH Markets to CFH Clearing now reflects our business model as an interbank prime of prime solutions provider. Our new relationship with Bank of America Merrill Lynch, combined with our open and flexible technology, allows us to give the smaller to medium sized institutional customer a full front to back solution with excellent and diverse liquidity.”
CFH Clearing rebranded from CFH Markets in June 2013. It connects to all the top tier 1 banks globally either directly or via FXSpotStream, allowing clients to trade with these banks via their prime broker of choice or via a margin account held at CFH Clearing.
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