Brevan Howard taps Ripple Prime for multi-asset prime brokerage
The agreement deepens an existing relationship between the two firms, as demand grows among top-tier managers for prime brokerage across traditional and digital assets.
The agreement deepens an existing relationship between the two firms, as demand grows among top-tier managers for prime brokerage across traditional and digital assets.
The new offering will provide clients with a single counterparty relationship and cross-margining exposure capabilities across US-listed equities, indices and digital assets through a 24/7 model.
Ripple will provide $150 million in debt financing as part of the collaboration, which will cement stablecoin Ripple USD as a core collateral asset for LMAX’s global client base.
The approval builds on Hidden Road’s recent expansion of its fixed income prime brokerage platform and follows the firm’s acquisition by Ripple announced earlier this month.