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Domestic Clearing

SIP Prime Brokerage Services Group, through its custodian*, clears and settles trades in equities, ETF's, options, fixed income and municipal securities on a daily basis. Prime broker clients may submit "away trades" on pre-formatted excel spread sheets, upload trades online through our clearing portal, or request the SIP operational staff to submit the trades on behalf of the prime broker client.

Prior to establishing an executing relationship with various broker dealers, it is necessary for the prime broker client to submit the appropriate information to establish a "street-side" account. Upon receipt of this information, SIP will establish the account enabling the prime broker client to "trade away". On a daily basis, SIP operational support staff interacts with prime broker clients to settle trades and correct trades that have been mismatched.

 

* Jefferies & Co. Inc., clears and settle trades for SIP Prime, A Division of Securities & Investment Planning Company