Michael DeJarnette and Benjamin Brown discuss the reasoning behind INTL’s move into the prime brokerage space
INTL FCStone’s latest announcement that the company is launching a new prime brokerage unit, sparked the curiosity on part of the industry as to what the firm’s reasoning is for entering the market. After reaching out to the firm, Finance Magnates had the opportunity to discuss the matter with two of the main leaders of the effort, Michael DeJarnette who is Co-Head of Prime Services and Benjamin Brown who is leading Business Development of the new PB unit.
Starting from the reasoning for the company’s entry into a space which has been consolidating in recent years, Mr. DeJarnette elaborated that INTL FCStone saw the ongoing reduction in the count of market players as an opportunity.
“Due to the consolidation in the prime brokerage space, we saw a gap in the middle market area. Over the last five or six years, we’ve seen a dramatic change in the business. We saw the opportunity to build a new platform for middle market hedge funds and other asset managers,” DeJearnette explained.
With investment banks pulling back and brisk M&A activity leading to compressing options for the buy side, the company is strongly positioned to enter the business due to some specific advantages it has acquired over the past years.
“INTL FCStone provides us with a combination of infrastructure and autonomy that allows us to create a superior client experience similar to what was available in the early days of the prime brokerage business,” elaborated Benjamin Brown, who is leading the Business Development of the new PB unit.
The newly crafted team has been able to create a unique platform under the INTL umbrella that provides seamless access across multiple asset classes. This is the main competing points for the company to target the middle market prime brokerage segment.
Bringing Back the Early Days BP Service
While the company has been actively involved in providing FXPB services for some time, the expansion across multiple asset classes came in light of some deterioration in the quality of services as reported by Buy-Side.
The ongoing consolidation in the industry has impacted the client-centric approach which many of the firms in the PB space started with. With a team of professionals based in Atlanta, INTL FCStone is aiming to change this market place dynamic.
“In the beginning of the prime brokerage and hedge funds boom which wasn’t that long ago, there were more independent providers and higher levels of service. That was due to the higher levels of competition before the recent phase of consolidation in the industry. Driven by the largest and most profitable bulge bracket banks, M&A activity in the market led to a decline in the level of services,” DeJarnette explained.
Asset Class Focus
Aside from its traditionally strong business on the equity and options side, INTL FCStone was able to integrate derivatives and foreign Exchange into its offering. The company is marketing itself to hedge funds, mutual funds, pension funds and a large array of professional asset managers.
“We see great growth potential in the emerging and middle market hedge funds space. Our satellite offices across the country are going to provide a network for us to quickly expand,” DeJarnette concluded at the end of our interview.
INTL FCStone’s latest announcement that the company is launching a new prime brokerage unit, sparked the curiosity on part of the industry as to what the firm’s reasoning is for entering the market. After reaching out to the firm, Finance Magnates had the opportunity to discuss the matter with two of the main leaders of the effort, Michael DeJarnette who is Co-Head of Prime Services and Benjamin Brown who is leading Business Development of the new PB unit.
Starting from the reasoning for the company’s entry into a space which has been consolidating in recent years, Mr. DeJarnette elaborated that INTL FCStone saw the ongoing reduction in the count of market players as an opportunity.
“Due to the consolidation in the prime brokerage space, we saw a gap in the middle market area. Over the last five or six years, we’ve seen a dramatic change in the business. We saw the opportunity to build a new platform for middle market hedge funds and other asset managers,” DeJearnette explained.
With investment banks pulling back and brisk M&A activity leading to compressing options for the buy side, the company is strongly positioned to enter the business due to some specific advantages it has acquired over the past years.
“INTL FCStone provides us with a combination of infrastructure and autonomy that allows us to create a superior client experience similar to what was available in the early days of the prime brokerage business,” elaborated Benjamin Brown, who is leading the Business Development of the new PB unit.
The newly crafted team has been able to create a unique platform under the INTL umbrella that provides seamless access across multiple asset classes. This is the main competing points for the company to target the middle market prime brokerage segment.
Bringing Back the Early Days BP Service
While the company has been actively involved in providing FXPB services for some time, the expansion across multiple asset classes came in light of some deterioration in the quality of services as reported by Buy-Side.
The ongoing consolidation in the industry has impacted the client-centric approach which many of the firms in the PB space started with. With a team of professionals based in Atlanta, INTL FCStone is aiming to change this market place dynamic.
“In the beginning of the prime brokerage and hedge funds boom which wasn’t that long ago, there were more independent providers and higher levels of service. That was due to the higher levels of competition before the recent phase of consolidation in the industry. Driven by the largest and most profitable bulge bracket banks, M&A activity in the market led to a decline in the level of services,” DeJarnette explained.
Asset Class Focus
Aside from its traditionally strong business on the equity and options side, INTL FCStone was able to integrate derivatives and foreign Exchange into its offering. The company is marketing itself to hedge funds, mutual funds, pension funds and a large array of professional asset managers.
“We see great growth potential in the emerging and middle market hedge funds space. Our satellite offices across the country are going to provide a network for us to quickly expand,” DeJarnette concluded at the end of our interview.
EU Parliament Imposes €10,000 Cash Payment Limit in New Anti-money Laundering Legislation
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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