BTIG to offer fixed-income services through prime brokerage group

By Devika Patel

Knoxville, Tenn., July 28 - BTIG LLC announced it has it has expanded its prime brokerage group to offer fixed-income services, including trading and portfolio financing.

The firm launched a global fixed-income group in February, which focuses on sales and trading of credit products across the full credit spectrum from investment grade to distressed debt. BTIG's prime brokerage previously covered equity and equity options and made the move to fixed income to better meet the needs of its hedge fund clients.

"As our clients became more interested in fixed-income products, we saw a huge need and opportunity to expand our services," managing director and co-head of prime brokerage Justin Press said in a press release. "We have created a one-of-a-kind fixed-income offering that will bridge the gap for hedge fund managers who have traditionally been operating in equities only."

The prime brokerage group was launched in January 2004 and caters to startup and existing long/short equity hedge funds.

BTIG is an institutional brokerage and fund services company based in New York.

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