prime broker

Definition

A broker which acts as settlement agent, provides custody for assets, provides financing for leverage, and prepares daily account statements for its clients, who are money managers, hedge funds, market makers, arbitrageurs, specialists and other professional investors.

Use prime broker in a sentence

You should always try to have a good reputation with a prime broker so that you can know when a good deal is coming.

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He was a really excellent prime broker and we trusted him with everything and gave him extra money because we liked him a lot.

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Ashton was reliant on his prime broker as he was busy trading on the stock market each day and needed someone to stay on top of such affairs.

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prime accounts prime brokerage