what is prime brokerage

What Is Prime Brokerage? The prime brokerage makes money by charging a fee, such as a spread or premium on the loan from a commercial bank, in return for facilitating the transaction. Another core service provided by prime brokers is that of trade clearing and settlement. How does a prime brokerage work? The prime brokerage…

what does bank sweep mean

What Does Bank Sweep Mean? A sweep account automatically transfers cash funds into a safe but higher interest-earning investment option at the close of each business day, e.g., into a money market fund. Sweep accounts try to minimize cash drag by capitalizing on the immediate availability of higher-interest accounts. How does bank sweep work? A…

what is a medallion stamp

What Is A Medallion Stamp? A Medallion Signature Guarantee stamp can be obtained at a bank, credit union, broker, or other financial firm. Individuals should contact the bank, credit union, broker, or other financial firm they have an account with and inquire if the institution participates in the Medallion Signature Guarantee program. How do you…