When Prime Brokers Fail : The Unheeded Risk to Hedge Funds, Banks, and the Financial Industry

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  • Edition: 1st
  • Format: Hardcover
  • Copyright: 2010-07-13
  • Publisher: Bloomberg Press
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When Prime Brokers Fail is a detailed look at the relationship between hedge funds and their brokerages and the risks multiplied in extraordinary markets. This relationship has been the source of unexpected risk for banks lending to highly leveraged funds, as well as funds with assets atstruggling banks.

Author Biography

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 ja@jsaikman.com.

Table of Contents

Acknowledgmentsp. ix
The Business
Extraordinary Marketsp. 3
Fundamentals of Prime Financep. 27
Strategy and Opportunityp. 41
The Players
Hedge Fundsp. 55
Hedge Fund Managers and Investment Advisersp. 99
Prime Brokeragesp. 117
Prime Brokerage Business Modelp. 135
Securities Lending and Financingp. 165
Executing Brokersp. 185
The Risks and Rewards
Life Cyclesp. 199
Risk Managementp. 205
Legal and Compliance Issuesp. 213
What the Future Holdsp. 235
Prime Broker Listp. 255
List of Securities Lendersp. 257
Prime Broker Due Diligence Questionnairep. 259
Useful Links-Prime Financep. 265
Bibliographyp. 267
Glossary of Useful Termsp. 277
About the Authorp. 281
Indexp. 283
Table of Contents provided by Ingram. All Rights Reserved.

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