Does anyone use IB Prime services? What are the requirements? Is it easier to set up than, say, prime at Goldman?
UBS's Prime Brokerage Services is a portal to a new kind of solution - one that transforms prime brokerage from a basic operational service to a powerful conduit of global resources. Whatever your size, UBS is committed to putting our organization to work for you. Our financial strength, market presence, and the expertise and dedication of our Prime Brokerage Services team combine to help your business succeed. We offer global clearing, custody, flexible financing solutions, and full accounting support, as well as access to our foreign exchange and fixed income platforms. We provide timely settlement and clearing of securities and cash balances for all transactions in more than 30 markets - in any time zone and any currency, whether you have executed the transaction through us or with a third party. Our integrated back office provides access to a full range of operational solutions and financing options through a single point of contact, allowing you to operate all over the world, seven days a week. Where traditional prime brokers stop, UBS's Prime Brokerage Services continues - providing incremental service, value, and solutions. Just came across this, I noticed the 'whatever your size' bit. Always thought they were for big funds. Maybe interesting for some of you.
I would avoid UBS. PB fees are prohibitive to funds <$10mm. Go with Advent software or similar unless you require ibank counterparty/credit for structured product and OTC transactions. IB may be a solution for listed product.