Custody and Clearing
Leverage our clearing and custody relationships
We introduce single or multi-prime through Wedbush Securities and BNY Mellon/Pershing.
Our strong partnership with Wedbush and BNY translates to highly competitive rates for your fund, and gives you access to their superior backoffice technology solution to help you efficiently manage your assets.
After the the collapse of MF Global, Lehman Brothers, Bear Stearns and other large players in the custody and clearing industry - Hedge Funds today are facing greater challenges to generate alpha while reducing risk and creating transparency. GlobalVest addresses the current demands of fund managers and worried investors with an introduction to a unique multi-prime brokerage solution.
We believe that in addition to the ability to generate solid returns - our hedge funds will be able to grow assets by providing their investors require the transparency and risk mitigation needed in today’s environment. This is achieved through our broker neutral technology, aggregated reporting, risk analysis and consolidated back office operations. Generating alpha for investors is our clients’ primary focus which is why our focus is to assist managers by reducing their operating costs and ensuring back office operations work seamlessly.
Tri-Party Clearing arrangement
For even greater risk diversification, we can provide access to the BNY Mellon - Pershing’s tri-party account arrangement, in which long positions are held in custody at BNY Mellon and short and margin positions are held at Pershing.
Another layer of saftey beyond SIPC protection
In addition to SIPC protection ($500,000 in securities, $250,000 cash), Wedbush Securities provides coverage in excess of SIPC from Lloyd’s of London in conjunction with other insurers. The excess of SIPC coverage provides the following protection for assets held in custody by Wedbush Securities and BNY Mellon:
- $12 billion in custodial assets
- Over $1.6 billion in balance sheet assets
- Over 650 employees