Best electronic equities prime brokerage: Morgan Stanley
Highly commended: Goldman Sachs
Both Morgan Stanley’s and Goldman Sachs’ prime brokerage sites do practically everything that a hedge fund could reasonably ask for. They have the most comprehensive and impressive offerings, which cover position reporting, risk analytics, online stock lending, the ability to make payments, full integration with equities trading products, and the ability to re-run amended reports intra-day.
The sites are also attractively designed and easy to use with helpful features such as corporate actions monitors and portfolio events warning systems.
Morgan Stanley’s site, on the other hand, handles all of these functions better than most, with extra tools as well. Its online payments system is for example available everywhere, whereas Goldman Sachs’s has yet to be fully rolled out in all regions.
One of the additional and unique features offered by Morgan Stanley’s prime brokerage site is its tax alert reports for US hedge funds. These help inform and advise on the adverse tax consequences of wash sales and short-term gains.
Another unique feature of the site is Partner Link. Hedge funds can use this to create websites for their clients to display selected fund details drawn directly from the prime brokerage account.