Fidelity Capital Markets to release a prime brokerage pricing service
30 July 2012 Boston
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Institutional trading firm Fidelity Capital Markets is preparing to launch a securities lending pricing service that could make the market more transparent for its clients.
Fidelity Capital Markets houses the prime brokerage business of the mutual fund company Fidelity Investments. It offers prime brokerage services to its clients through Fidelity Prime Services, as well as a separate securities finance programme.
Its yet-to-be launched pricing information service will allow its prime brokerage clients to see the rates that are on offer from prime brokers for specific securities.
A client will only be able to see prime broker rates from Fidelity Capital Markets and the prime brokers that it uses, and only that client will be able to see those specific rates.
It has been reported that Fidelity Capital Markets has met resistance from other prime brokers that do not want to provide their rates in case it affects prices.
The unnamed service is being tested with select prime brokerage clients and is expected to launch in a few months.
Fidelity Capital Markets houses the prime brokerage business of the mutual fund company Fidelity Investments. It offers prime brokerage services to its clients through Fidelity Prime Services, as well as a separate securities finance programme.
Its yet-to-be launched pricing information service will allow its prime brokerage clients to see the rates that are on offer from prime brokers for specific securities.
A client will only be able to see prime broker rates from Fidelity Capital Markets and the prime brokers that it uses, and only that client will be able to see those specific rates.
It has been reported that Fidelity Capital Markets has met resistance from other prime brokers that do not want to provide their rates in case it affects prices.
The unnamed service is being tested with select prime brokerage clients and is expected to launch in a few months.
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