Prime brokers are financial institutions that provide a range of services to hedge funds, asset managers, and other institutional clients. Their primary role is to facilitate trading and provide various support services, including securities lending, margin financing, and access to global markets.
Radient Form ADV data looks at some of the major prime brokers in the industry and tracks their growth and activities.
This blog compares the activities of 5 emerging prime brokers from 2022 to 2023. The 5 emerging prime brokers are:
1) CoinBase Global Inc
2) Clear Street Holdings
3) Charles Schwab
4) State Street
5) First Republic Bank
(To find emerging contenders, we focus on prime brokers that are currently servicing less than 200 funds)
1) Coinbase Global
In Sept 2023, Coinbase launched a crypto lending service aimed at U.S.-based institutional investors, already attracting over $57 million in investments through its Coinbase Prime service. Coinbase Prime is the platform’s full-service Prime brokerage system for institutional investors, allowing them to execute trades and custody of digital assets. Coinbase’s move into institutional lending arrives at a crucial time for the crypto market, filling a void left by failed ventures.
Some of CoinBase Global’s clients include:
2) Clear Street Holdings
Clear Street began five years ago by launching a prime brokerage business using a proprietary modern technology stack. Clear Street boasts of roughly 200 institutional-sized investors and hundreds of smaller active trading entities.
Some of Clear Street’s other clients include:
3) Charles Schwab
Some of Charles Schwab’s clients include:
4) State Street
Some of State Street’s clients include:
5) First Republic Bank
Some of First Republic Bank’s clients include:
If you are interested in finding insights on specific prime brokers or gauging market trends, visit Radient or write to us at support@radientanalytics.com