Power shifts to PBs in new credit landscape
Clients must now prove the worth of their business
With the rising cost of running a foreign exchange prime brokerage (PB) business and the Swiss franc event of January 15 forcing some banks to pull back services from certain clients or to leave a section of the industry altogether, the balance of power between providers and customers has shifted.
Now even credit intermediaries, also known as prime-of-primes (PoPs), must demonstrate to their prime brokers that their business is valuable for both parties to avoid losing their line of credit in
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