All Upcoming Courses > Courses by date > September 2010 > LCF796

Prime Brokerage - What Fund Managers Need to Know  

Allard van der Graaf Head of Client Service Asia, Nomura
Simon Phillips Legal Counsel, Cheetah Investment Management Limited
Date: 9 September 2010, Thursday
Time: 9:30 am to 12:45 pm
Level: Standard
Accreditations:
CPD Law:   3.0
CPT SFC:   3.0
CFA CE*:   3.0
Fee: HK$ 1,800
HK$ 1,530 - 15% off for members who register online per course
Certificate of Attendance: HK$30 for members who register online per course
HK$50 for non-members per course
Language: English
Course Code: LCF796
Venue: Courses & Seminars Limited
22nd Floor,
100 Queen's Road Central,
Hong Kong
MAP
   
Categories: Funds
Hedge Funds
  
*
As a participant in the CFA Institute Approved-Provider Program Courses & Seminars has determined that this program is eligible for 3 credit hours. If you are a CFA Institute member, CE credit for your participation in this program will be automatically recorded in your CE Diary.

 
Course Details
The collapse of Lehman Brothers has brought about fundamental change in the Prime Services Industry, including the introduction of new prime brokerage platforms and increased awareness amongst Fund Managers of the credit and other risks associated with the prime broker relationship. The first part of this course will look at the current state of the Prime Services market from the Prime Broker’s perspective and will examine the options currently available to funds when appointing a prime broker. The second part will examine key clauses in a prime brokerage agreement and provide tips on how to negotiate them with Prime Brokers.
 
Highlights of the Course Include:

§   Current state of Prime Services market

§    Key concerns for Fund Managers

§    Analysis of different Prime Brokerage models and various options available to Funds

§    Discussion on the principal issues arising out of a Prime Brokerage relationship and tips on how to negotiate specific provisions including:

o    Rehypothecation rights and how they affect claims against prime brokers

o    Segregation of assets and no lien accounts

o    Two-way events of default

o    Control of close-out mechanism

o    Security interest provisions in favour of PB and its affiliates

o    Margin calls

§    Recent legislation / regulatory initiatives affecting Prime Brokerage