When Prime Brokers Fail (eBook)

The Unheeded Risk to Hedge Funds, Banks, and the Financial Industry

J. S. Aikman (Autor)

eBook Download: PDF

2010 | 1. Auflage
304 Seiten
John Wiley & Sons (Verlag)
978-0-470-87905-4 (ISBN)

Infos

An informative primer on the new landscape of leading prime brokers

Before the recent financial crisis, both regulators and market
participants disregarded the complex and dangerous nature of the
relationship between prime brokers (the banks) and their clients
(the funds). In When Prime Brokers Fail, J. S. Aikman
examines the convoluted structure of this relationship, the main
participants, and the impact of the near collapse of prime
brokerages on the financial world.

Filled with in-depth insights and expert advice, When Prime
Brokers Fail takes a close look at the unheeded risks of prime
finance and lays out the steps required for managers to protect
their funds and bankers to protect their brokerages.

* Examines the challenges, trends, and risks within the prime
brokerage space

* Discusses the structural adjustments firms will need to make to
avoid similar disasters

* Analyzes the complex relationship between hedge funds and their
brokerages and the risks that multiply in extraordinary
markets

* Covers new ways to manage an inherently risky business and the
regulations that may soon be introduced into this arena

Engaging and informative, this timely book details the
intricacies and interdependencies of prime brokerages and the role
that these operations play in our increasingly dynamic financial
system.

Autor

J. S. AIKMAN is a management consultant and lawyer advising managers and financial institutions. He also lectures on hedge funds and investment banking at the University of Toronto. Previously VP and counsel for a bulge-bracket investment bank in London, Aikman has broad international experience in alternative investments and has served as adviser to many successful entrepreneurial ventures. Aikman completed his MBA at Oxford University. He may be reached at [e-mail].

Inhalt

Acknowledgments ix

PART I The Business

Chapter 1 Extraordinary Markets 3

Chapter 2 Fundamentals of Prime Finance 27

Chapter 3 Strategy and Opportunity 41

PART II The Players

Chapter 4 Hedge Funds 55

Chapter 5 Hedge Fund Managers and Investment Advisers 99

Chapter 6 Prime Brokerages 117

Chapter 7 Prime Brokerage Business Model 135

Chapter 8 Securities Lending and Financing 165

Chapter 9 Executing Brokers 185

PART III The Risks and Rewards

Chapter 10 Life Cycles 199

Chapter 11 Risk Management 205

Chapter 12 Legal and Compliance Issues 213

Chapter 13 What the Future Holds 235

Appendix A Prime Broker List 255

Appendix B List of Securities Lenders 257

Appendix C Prime Broker Due Diligence Questionnaire 259

Appendix D Useful Links--Prime Finance 265

Bibliography 267

Glossary of Useful Terms 277

About the Author 281

Index 283

Produkt-Details

• Erscheint lt. Verlag: 29.6.2010
• Reihe/Serie: Bloomberg
• Reihe/Serie: Bloomberg
• Sprache: englisch
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung
• Themenwelt: Wirtschaft ► Volkswirtschaftslehre ► Finanzwissenschaft
• Schlagworte: Finance & Investments • Finanz- u. Anlagewesen • Investments & Securities • Kapitalanlage • Kapitalanlagen u. Wertpapiere
• ISBN-10: 0-470-87905-X / 047087905X
• ISBN-13: 978-0-470-87905-4 / 9780470879054