Hidden Road Launches Platform
A press release titled, "Hidden Road Launches Fixed Income Prime Brokerage Platform," tells us, "Hidden Road, the global credit network for institutions, ... announced the launch of its Fixed Income prime brokerage platform. The business will initially support Fixed Income Repo & Global Funding services following the firm's recent approval as a Fixed Income Clearing Corporation (FICC) clearing member. This represents the latest expansion of Hidden Road's product suite, which currently offers clients seamless, conflict-free access to clearing, prime brokerage and financing across a diverse range of asset classes." President Noel Kimmel comments, "Hidden Road's Fixed Income Repo & Global Funding platform marks a significant milestone in our mission to build the industry's most comprehensive suite of multi-asset prime brokerage and institutional financing solutions. With the ability to cross-margin and margin finance across cleared derivatives, FX prime brokerage, OTC swaps and digital assets, we are now able to offer a truly differentiated service to the institutional marketplace." The release says, "Hidden Road's Fixed Income and Funding business is led by Mike Santoro, an industry veteran who has led repo and funding operations at a number of leading global financial institutions, including BNP Paribas and Guggenheim Securities. The team, whose members average over two decades of experience in the Repo space, will be instrumental in building this key component of the firm's multi-asset prime brokerage, clearing and financing offering." Santoro adds, "We are excited to launch this business and become a member of FICC, a critical market infrastructure provider that brings stability and efficiency to the fixed income markets. Through this membership, we look forward to providing counterparties and eventually our clients with seamless execution and enhanced access to liquidity through our full-service, technology-enabled platform."
