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Synopsis

A prime brokerage account allows customers to utilise broker dealers or execute their orders themselves while designating a central or main firm to maintain custody of their assets. The firm that carries and receives the customer’s cash and securities is known as the “prime broker”. Prime brokerage accounts are usually established by institutional investors and larger retail investors. Acting as agents of security and trust for the market (trading venues and market participants) by ensuring participants have the capital to make good on their trades.

The PrimeBrokerTradeReport developed by MarketFactory uses The PrimeBrokerTradeReport uses the MFAPI to collect data from DropCopy events received from the APIServerAPI server. The data is then arranged in the format required by a Prime Brokers such as JPMorgan, and periodically (every 30 seconds) the service sends any pending records to the PrimeBroker using SFTPthe prime broker using SFTP, for processing by the Prime Brokers back office systems. 

The PrimeBrokerTradeReport achieves this by connecting to Whisperer as a regular "DropCopy" user, so this MFAPI user is established as normal in the standard procedure within the Whisperer configuration, with access to the appropriate set of Feeds.  Whisperer dropcopy configuration Feeds which are of interest to the Prime Broker concerned.  The Whispererdropcopy (on which thePrimeBrokerTradingReport draws a large part of its information) will not be discussed further in this section, for additional information on the Whisperer Dropcopy please click here.here.