Prime broker on board with RSRCHXchange
31 May 2016 London
Image: Shutterstock
Boutique prime broker Global Prime Partners has mandated RSRCHXchange to give its clients access to institutional research content.
The RSRCHXchange online platform will allow the prime broker’s hedge fund, family office and asset manager clients access to material from over 130 research providers, in a way compliant with new rules due to come in with the Markets in Financial Instruments Directive (MiFID) II.
Under MiFID II, investment research must be bespoke to each institution, and investment firms must pay for research with their own funds, or through a separate designated account, which is charged to the client. Research fees also have to be separated from execution and trading fees.
The new rules are designed to improve transparency, and to stop research costs being unfairly passed on to clients.
RSRCHXchange is designed to help asset managers purchase research in a more efficient, transparent and auditable way, with straightforward payment methods.
A dashboard also allows asset managers to track their research consumption, helping them to ensure their research practices are MiFID II compliant.
Sean Capstick, head of prime brokerage at Global Prime Partners, said: “As our business has grown, we find ourselves increasingly working with larger and more complex clients. They are looking to Global Prime Partners not just for their financing needs, but also for support in their core business of providing alpha to their end clients.”
He added: “This partnership enhances our offering to the Fund Manager and helps them with the core role they perform – generating returns for their investors.”
Vicky Sanders, co-founder of RSRCHXchange, commented: “By using our RSRCHX platform, asset managers can be confident that their access, procurement and management of research is MiFID II compliant. This partnership expands our ever-growing international client base and we look forward to working with Global Prime Partners and their customers in the future.”
The RSRCHXchange online platform will allow the prime broker’s hedge fund, family office and asset manager clients access to material from over 130 research providers, in a way compliant with new rules due to come in with the Markets in Financial Instruments Directive (MiFID) II.
Under MiFID II, investment research must be bespoke to each institution, and investment firms must pay for research with their own funds, or through a separate designated account, which is charged to the client. Research fees also have to be separated from execution and trading fees.
The new rules are designed to improve transparency, and to stop research costs being unfairly passed on to clients.
RSRCHXchange is designed to help asset managers purchase research in a more efficient, transparent and auditable way, with straightforward payment methods.
A dashboard also allows asset managers to track their research consumption, helping them to ensure their research practices are MiFID II compliant.
Sean Capstick, head of prime brokerage at Global Prime Partners, said: “As our business has grown, we find ourselves increasingly working with larger and more complex clients. They are looking to Global Prime Partners not just for their financing needs, but also for support in their core business of providing alpha to their end clients.”
He added: “This partnership enhances our offering to the Fund Manager and helps them with the core role they perform – generating returns for their investors.”
Vicky Sanders, co-founder of RSRCHXchange, commented: “By using our RSRCHX platform, asset managers can be confident that their access, procurement and management of research is MiFID II compliant. This partnership expands our ever-growing international client base and we look forward to working with Global Prime Partners and their customers in the future.”
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