Best practice guidelines for prime brokerage

With growing activity and evolution of the market, the FXC, an industry body sponsored by the Federal Reserve Bank of New York, released recommendations covering credit, operational and reputational risks associated with the prime brokerage services.

The recommendations represent best practises already implemented in varying degrees by the FXC member institutions. They include that no trade should be finalised without confirming sufficient availability under the give-up line and that executi