Training
Provided by Fintuition
Intermediate-level course examining the requirements of a successful prime brokerage business and the key tax and legal issues in both principal ownership and agency ownership structures.
This is primarily ilt training
This class may be available at a classroom in London, Greater London,
Prime Brokerage
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Prime Brokerage - London
Fee: £1,995 + VAT
London
Intermediate-level course examining the requirements of a successful prime brokerage business and the key tax and legal issues in both principal ownership and agency ownership structures.
19 - 20 November 2008
1 Berkeley Street, London W1
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Course Director(s)
David Morgan, James Cunningham
Guest Speaker(s)
Craig Reeves, Platinum Capital Management Limited
Very useful. Pitched just right for me. Good coverage of relevant topics. Presenter had excellent in depth knowledge and delivered beautifully! Mark Connelly, Merrill Lynch
What You Will Learn
Is This Course Right For You?
This course covers the development of prime brokerage into the sophisticated package of services it is today. Day 1 examines the nature and key trading strategies of hedge funds and the allocation of margin. The requirements of a successful prime brokerage business are laid out, followed by a look at the risks generated by the business and the systems environment required. The investor's relationship to a hedge funds prime broker is also covered. Day 2 provides an in-depth explanation of the key tax and legal issues raised by each of the main legal models, focussing in turn on the long and short sides of the trading book.
Course
Overview
Hedge Funds and the Development of Prime Brokerage
Main hedge fund styles, Opportunistic, Event-driven, Relative value. Measures of performance and developments in investor base. Growth of derivative or hybrid products. Main characteristics and risks associated with hedge funds: market neutrality; credit quality; liquidity; operational hazards.
Convertible Arbitrage
How does this strategy actually make money? How does it actually work? What are its main risks? Is it really market neutral? A series of detailed case studies.
Prime Brokerage
Why is Prime Brokerage important to Hedge Funds? How exactly do Prime Brokers operations, commercial and legal terms affect Hedge Fund performance and bear upon the the Hedge Fund's risks?
Investor's Perspective
What are investors looking for in a Prime Broker? The advent of institutional money to the Prime Brokerage arena and its impact on Hedge Funds' and Prime Brokers' compliance function and operations. Capital introduction described and its risks considered. Proprietary investment in Hedge Funds by Investment banks discussed.
Risk Management
The risks in prime brokerage and how to control them. How Investment Banks look at risk: Corporate credit, Prime Broker risk management. Value at risk explained. Where do a Prime Broker's margin terms come from? Risk theory underlying Prime Brokerage. Prime Brokerage as a dynamic form of securitised credit. The nexus between Risk Management, Legal and Operational Risks. Recent developments. A recent case study of what happens when things go wrong: new, and previously hidden, risks.
Fintuition - FinTuition is an international training company based in London specialising in the securities finance business: securities lending, equity finance, hedge funds, prime brokerage, repo and collateral management.
We offer a regular schedule of open-enrolment courses from introductory to advanced levels as well as on-site training.
FinTuition training relies heavily on exercises, role plays...
