BofA Merrill Lynch, which was selected through a request for proposal process, will be the new CFH Clearing’s broker from 1 August 2013.
The brokerage firm will continue to work with UBS as a prime broker, mainly for Precious Metals. CFH Markets, which has over $1.5bn in interbank credit lines, changed its name to CFH Clearing in June 2013.
CFH Clearing CEO and co-founder Lars Holst said the recent name change reflects the company’s business model as an interbank prime of prime solutions provider.
"Our new relationship with Bank of America Merrill Lynch, combined with our open and flexible technology, allows us to give the smaller to medium sized institutional customer a full front to back solution with excellent and diverse liquidity," Holst said.
BofA Merrill Lynch global head of FX Prime Brokerage and FX Clearing Peter Klein said that the company is delighted to be the new FX prime broker for CFH Clearing.
"This partnership reinforces our position as a leading FX prime brokerage provider, working with clients that have increasingly sophisticated requirements," Klein said.
