Wells Fargo to Acquire Merlin Securities
US mortgage giant Wells Fargo has made an intention to purchase leading Prime Broker Prime Broker Prime brokers are the designation given to individuals handling a package of services offered by investment banks, wealth management firms, and securities dealers to hedge funds which need the ability to borrow securities and cash in order to be able to invest on a netted basis and achieve an absolute return.There are two types of prime brokers - bank and non-bank corporations. Traditionally major global investment banks have been the predominant players in the space, however recent years have p Prime brokers are the designation given to individuals handling a package of services offered by investment banks, wealth management firms, and securities dealers to hedge funds which need the ability to borrow securities and cash in order to be able to invest on a netted basis and achieve an absolute return.There are two types of prime brokers - bank and non-bank corporations. Traditionally major global investment banks have been the predominant players in the space, however recent years have p Merlin Securities for an undisclosed figure.
Merlin Securities provides hedge funds custody and clearing services on wide range of asset classes including :
- Domestic & International Equities
- Options, including access to the CBOE, PSE, NYSE, PHLX, AMEX, ISE, and BOX
- Fixed Income trading capabilities in a variety of asset classes on an agency basis, including Investment-Grade Corporates, High-Yield Corporates, Government Agencies, U.S. Treasuries, Foreign/Service Debt, and more
- Currencies
- Futures
Merlin Securities is targeting hedge funds that manage under $2 billion in assets.
Wells Fargo has traditionally been focused on non capital market products and the acquisition of Merlin gives it entry into the competitive prime brokerage business.
"With the acquisition of Merlin, we are gaining highly scalable, broker neutral technology with multi-asset and multi-custodian capabilities," said Chris Bartlett, Wells Fargo Securities's head of equity sales and trading. "Merlin's open architecture platform enables clients to choose the custodian and Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real that is right for their business."
US mortgage giant Wells Fargo has made an intention to purchase leading Prime Broker Prime Broker Prime brokers are the designation given to individuals handling a package of services offered by investment banks, wealth management firms, and securities dealers to hedge funds which need the ability to borrow securities and cash in order to be able to invest on a netted basis and achieve an absolute return.There are two types of prime brokers - bank and non-bank corporations. Traditionally major global investment banks have been the predominant players in the space, however recent years have p Prime brokers are the designation given to individuals handling a package of services offered by investment banks, wealth management firms, and securities dealers to hedge funds which need the ability to borrow securities and cash in order to be able to invest on a netted basis and achieve an absolute return.There are two types of prime brokers - bank and non-bank corporations. Traditionally major global investment banks have been the predominant players in the space, however recent years have p Merlin Securities for an undisclosed figure.
Merlin Securities provides hedge funds custody and clearing services on wide range of asset classes including :
- Domestic & International Equities
- Options, including access to the CBOE, PSE, NYSE, PHLX, AMEX, ISE, and BOX
- Fixed Income trading capabilities in a variety of asset classes on an agency basis, including Investment-Grade Corporates, High-Yield Corporates, Government Agencies, U.S. Treasuries, Foreign/Service Debt, and more
- Currencies
- Futures
Merlin Securities is targeting hedge funds that manage under $2 billion in assets.
Wells Fargo has traditionally been focused on non capital market products and the acquisition of Merlin gives it entry into the competitive prime brokerage business.
"With the acquisition of Merlin, we are gaining highly scalable, broker neutral technology with multi-asset and multi-custodian capabilities," said Chris Bartlett, Wells Fargo Securities's head of equity sales and trading. "Merlin's open architecture platform enables clients to choose the custodian and Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real that is right for their business."