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Prime Brokerage Document To Hit By Year-End

22 Sep 2005

A master give-up agreement for prime brokerage relationships will be formalized by ISDA next month and ready by year-end.

A master give-up agreement for prime brokerage relationships will be formalized by ISDA next month and ready by year-end. David Bloom, head of legal for corporate, investment banking and markets at HSBC, said the agreement, which allows hedge funds to enter a full prime brokerage relationship with one firm and then execute trades with others, will encompass standard terms for all derivative trades, as well as compensation procedures.

22 Sep 2005