Barclays merges FX/FI prime brokerage

The new set-up will be more efficient for both customers and for the bank, said New York-based global head of collateralised finance, Kevin Mirabile.

Customers will see advantages from a multi-asset service, including the capability to operate a simple risk limit across all products cleared or executed with banks.

While for Barclays, costs will come down. Under the new model, costs incurred by client reporting, account management, advertising, conference attendance and other areas can be shar