In practice, the executive broker is not as reluctant. He will “accuse” the hedge fund`s first broker in a preventive manner, which is more like engaging in the University Challenge before Bamber Gascoigne asks the question: “A small birdie tells me that you are going to order me to trade a stock to cover a stock exchange that you are going to make with your client hedge fund X. This is it! Calling this “abandonment” is a false expression, because nothing is actually “abandoned.” Theoretically, even if it is not very common in practice, the primeur broker can claim ignorance and refuse to make transactions with the executive broker, which means that the executive broker is suspended from drying each time someone is used for the trading of shares that he carries out. Well, here`s the curveball: none of the favorable elements mentioned above are found in the main PBA. On the contrary, they are negotiated in a separate legal agreement, called Term Commitment or Lock-Up. In the case of a cash equity, the hedge fund looks for a fixed indication from an executive broker of the price of a cash capital, but does not act in the same way: “Okay, sir: Keep this idea” and runs to its first preferred broker, to whom it orders to take a swap at the exact price indicated by the executive broker. Draw the PB`s attention to the profitable broker-executor, sitting on the phone and holding his thoughts, all disguised and walking nowhere. Foreign Exchange Prime Brokerage is a service offered by major currency trading banks for hedge funds, investment firms, commodity trading advisors and other investment and trading companies. The concept of prime brokerage began in the equity and bond markets; The idea of prime brokerage was adapted to the foreign exchange community in the early 1990s and has since become a standard in the industry, especially in hedge funds and investment firms. Cross the default setting. The PBS will attempt to include a provision that each EOD should, under another agreement between the Fund and PB or its associated enterprises, lead to an EOD under that ABP. . .