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In other words, is it too costly for PB to be an EB as well? Answering your second question first, PB's are EB's; they just provide an entire suite of products and services beyond just trade execution that an EB would provide. If you have an account with a prime broker, they can undoubtedly execute trades, and you wouldn't necessarily need an additional EB....


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A prime broker is like a General Practitioner doctor. Executing Broker is like a specialist. If you needed brain surgery, you would not have your GP do it. Executing brokers specialize in specific types of, well, execution - equities, bonds, futures, etc. They may further specialize in high touch (sales trader) working orders, providing algorithms (CS AES ...


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