First New York Securities Expands Into Fund Services With The Launch of EFX Prime Services

- Prominent independent Wall Street partnership expands sell-side presence

- EFX Prime Services to offer prime brokerage-related services and trading support to fund managers, hedge fund managers and active traders

- EFX to increase direct allocations to fund managers

Jan 14, 2010, 07:00 ET from First New York Securities, LLC

NEW YORK, Jan. 14 /PRNewswire/ -- First New York Securities, LLC (First New York) the premier principal trading firm headquartered in New York, announced today the launch of EFX Prime Services. EFX Prime Services will offer prime brokerage-related services to fund managers and active traders. In conjunction with launch of EFX Prime Services, EFX will increase its commitment to be an active allocator to emerging and established funds.

The comprehensive and differentiated service offering will include:

  • Prime Services:
    • Comprehensive multi-prime capability
  • Trading:
    • Trading infrastructure and related services via Direct Market Access (DMA) platforms, proprietary trading platforms and sales desks
  • Capital Introduction
    • Robust capital introduction calendar and marketing support services
  • Capital Allocation
    • Direct allocations to fund managers via the EFX Managed Accounts Platform

Commenting on the launch of EFX Prime Services, First New York Managing Partner, Donald Motschwiller said, "First New York is excited to announce the launch of EFX Prime Services. EFX Prime Services is a natural extension of our premier trading and risk management infrastructure. With over 200 principal traders in all asset classes, we understand trading and have worked with external managers for years."

"The impressive combination of trading technology, professional infrastructure, risk management, multiple clearing relationships, direct capital allocation and an aggressive capital introduction program will immediately differentiate EFX Prime Services as a partner to emerging and established fund managers," added Brian Stutman, newly appointed Managing Director of EFX Prime Services.

EFX Prime Services' clients will commence trading on February 1, 2010.  

About EFX Prime Services:

EFX Prime Services is a division of First New York. EFX Prime Services offers prime brokerage services, comprehensive trading support, capital introduction and capital allocation via EFX to single and multi-primed funds.  EFX Prime Services has a presence in New York and Florida.

For further information:

About First New York Securities, LLC:

Founded in 1986, First New York Securities is a premier global proprietary trading firm. The firm's diverse trading business spans multiple asset classes including equities, derivatives, fixed income, foreign exchange and commodities, and is backed by a state-of-the-art technology platform. First New York is one of the few remaining classic partnerships on Wall Street and its compensation structure is designed to recognize and generously reward superior individual performance. Headquartered in New York City, with additional offices in London and Boca Raton, the firm has more than 300 employees globally. To learn more about First New York Securities visit  

SOURCE First New York Securities, LLC