Definitions for "Prime Broker"
A large bank or securities firm that give administrative and back office support to hedge funds and other professional investors.
a broker-dealer that, among other things, clears and finances customer trades made at other brokerage firms at the customer's request
An investment bank that services hedge funds in connection with their activities in the financial markets. Prime brokers offer the following services, among others: trading transactions, clearing and settlement, securities lending, help to set up hedge funds. See hedge associations.