Hidden Road Enters FI PB Space

Hidden Road has expanded its markets coverage with the announcement it has launched a fixed income prime brokerage platform, initially supporting fixed income repo and global funding services.

The launch follows the firm’s recent approval as a Fixed Income Clearing Corporation (FICC) clearing member and, it says, represents the latest expansion of Hidden Road’s product suite, which currently offers clients access to clearing, prime brokerage and financing across a diverse range of asset classes.

“Hidden Road’s fixed income repo and global funding platform marks a significant milestone in our mission to build the industry’s most comprehensive suite of multi-asset prime brokerage and institutional financing solutions,” says Noel Kimmel, president at Hidden Road. “With the ability to cross-margin and margin finance across cleared derivatives, FX prime brokerage, OTC swaps and digital assets, we are now able to offer a truly differentiated service to the institutional marketplace.”

The new business is led by Mike Santoro, who has led repo and funding operations at a number of financial institutions, including BNP Paribas and Guggenheim Securities. “Through [FICC] membership, we look forward to providing counterparties and eventually our clients with seamless execution and enhanced access to liquidity through our full-service, technology-enabled platform,” Santoro says.