Funds brace for higher costs, worse terms after CS prime exit
Largest banks set to win business; others fear regulatory scrutiny of highly concentrated market
Credit Suisse’s exit from prime services will drive higher pricing and tighter deal terms, buy-side firms warn, as existing clients are forced to transfer their activities to an ever-shrinking pool of bulge-bracket banks.
On November 4, Credit Suisse told investors it planned to wind down its prime services offering, which includes prime brokerage (PB) and derivatives clearing, as it pivots to
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