Prime of primes reduce reliance on prime brokers
PoPs sense an opportunity to cut costs
Some prime-of-prime (PoPs) providers are exploring new ways of reducing their reliance on foreign exchange prime brokers (FXPBs) in response to FXPBs limiting their services in the wake of the Swiss franc event on January 15.
While the PoP community has traditionally used its credit relationships with FXPBs to service end-users who struggle to gain direct access to these prime brokers, the Swiss franc crisis has resulted in FXPBs discontinuing certain PoP relationships, forcing the PoPs to look
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