Boston Technologies was just granted an official FSA license to its prime brokerage venture – Boston Prime. Boston’s BT Prime serves as a prime brokerage for BT’s clients plugging them to liquidity of a dozen or so banks. This also is used as a feed to those brokers who require it.
Boston’s licenses are found here: http://www.fsa.gov.uk/register/firmPermissions.do?sid=258356 and are:
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- Agreeing to carry on a regulated activity
- Arranging (bringing about) deals in investments
- Arranging safeguarding and administration of assets
- Dealing in investments as agent
- Making arrangements with a view to transactions in investments
Boston pushed for this status as it was both required in many jurisdictions and will be perceived as more organized and safe for all of its clients. Leverate is rumored to be going through same procedure in Cyprus.