And it reigns as a leading "prime broker, " handling trades for these funds and for itself.
Pre-crisis, many firms relied on a single prime broker to handle their transactions and record keeping.
No longer could a fund depend on prime broker because its business was spread across several.
Now JPMorgan, a leading prime broker, is saying that managers are willing and able to borrow again.
Many large hedge funds had moved away from a single prime broker earlier so no single broker could see all their positions.
But the prime broker has to locate the shares, which then have to "deliver" or be given to the trader before the sale is executed.
Bear Stearns had been helped in March for fear of chaos in derivatives markets, in which it was a leading player as a prime broker.
In regular short-selling, the trader borrows shares for a fee from his prime broker and sells them, hoping to buy them back later at a lower price and reap the profit on the difference.
"Defendants effectively operated in a tag-team fashion--rotating in the roles of prime broker, clearing agent or counterparty that enabled the short sale transaction to go forward without the expectation of delivery, " the complaint says.
Mr. Gaffney warned each of the addressee firms that they may be exposed to reputational risk and price risk if they are invested in or have prime broker relationships with banks engaged in Shariah-Compliant Finance.
CENTERFORSECURITYPOLICY: The perils of Shariah-compliant finance
They typically conduct their investment activity through a prime broker, which is often a team within a large Wall Street investment bank, such as Goldman Sachs and JP Morgan and Bank of America Merrill Lynch and Credit Suisse.
The U.S. attorney said Chilowitz sent the confidential list and data from a Morgan Stanley computer to his personal AOL account and had communications from his Morgan Stanley e-mail to that unnamed "co-conspirator, " who worked at an unidentified consulting company that helped negotiate prime broker rates for hedge funds.
Thanks in part to the credit crunch, potential rival bidders dropped out of the race earlier this year: Gerardin said that Britain's Barclays had faced serious concerns over potential wider financing issues and pulled out, while the fire-sale acquisition of beleaguered prime broker Bear Stearns meant JPMorganChase no longer needed to knock at Bank of America's door.
Thanks in part to the credit crunch, potential rival bidders dropped out of the race earlier this year: Gerardin said that Britain's Barclays had faced serious concerns over potential wider financing issues and pulled out, while the fire-sale acquisition of beleaguered prime broker Bear Stearns meant JPMorganChase (nyse: JPM - news - people ) no longer needed to knock at Bank of America's door.
Vojislav Kostunica, the ex-president of Yugoslavia who is chief coalition-broker and prospective prime minister, says extraditions are not a priority for him either.
If a broker puts you into a sub prime loan and you're A credit, they receive what is called the yield spread premium, which also synonymous to a kick back.
Malaysian Prime Minister Najib Razak, who had helped to broker the deal, was also present.
Speaking on RTE's Prime Time on Thursday evening, Mr McAdam said he had worked as a meat broker in the UK and Ireland for 25 years.
Compared with the prime minister, an economics professor, Mr Berlusconi looks every inch the professional Roman power-broker.
In this version, Shakespeare was a broker of plays, organising, editing and writing scripts, but not necessarily the prime author of all the plays now attributed to him.
BBC: Shakespeare scholars try to see off the Bard's doubters
应用推荐