BTIG enhances multi-prime solution
13 May 2011 New York
Image: Shutterstock BTIG, LLC, has added J.P. Morgan Clearing Corp. (J.P. Morgan) as a clearing agent and custodian for its Prime Brokerage platform. BTIG Prime Brokerage will now offer its clients both J.P. Morgan Clearing Corp. and Goldman Sachs Execution & Clearing
The new relationship is a significant expansion of BTIG’s Prime Brokerage offering. Now in its 8th year of operation, BTIG’s Prime Brokerage division is a dominant mid-market prime broker, with more than 300 investment managers utilizing BTIG as their prime broker. BTIG’s addition of a second custodial and clearing option for clients is a strategic enhancement, providing a multi-prime solution for clients who are growing rapidly and want to diversify their custodial counterparty risk.
Justin Press, Co-Head of Prime Brokerage at BTIG, commented, “We are very excited to add J.P. Morgan to our platform. I can’t think of two better custodial providers in the market. Both J.P. Morgan and GSEC have a long history in prime brokerage and both support the introducing broker market.” Press went on to say, “Clients are often looking to add a second prime brokerage relationship, and having two premier custodians opens up new opportunities for BTIG and our clients. The addition of J.P. Morgan puts BTIG in a stronger position to be a long term resource for our clients.”
Brian Petitt, Co-Head of Prime Brokerage at BTIG, added that "BTIG’s Prime Brokerage business offers ‘best in class’ services and options to clients who appreciate resources like state of the art technology and reporting, and customized capital introduction." Brian Petitt went on to say "Being able to offer J.P. Morgan Clearing Corp. and Goldman Sachs Execution & Clearing as clearing and custodian options helps us stay ahead of our competition and provide the best possible solutions for our clients.”
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