FX Week Europe: Prime broker margins under the microscope
LONDON – Foreign exchange prime brokers (FXPBs) are facing closer margin scrutiny as their clients continue to be wary of counterparty credit risk, according to panellists at the FX Week Europe conference in London last week (November 17).
Mark McDonnell, SEB’s London-based head of FX prime brokerage said clients have been re-visiting how and where margin is deposited, to ensure it is held in a segregated and bankruptcy-remote format. Panellists also noted a shift towards multiple prime brokers
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