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29 Sep 2009

Hedge Funds Team Up To Provide Investor Access To Prime Brokerage Platform

Hedge fund prime brokers Northern Trust and Merlin Securities have set up an agreement which enhances Merlin’s existing broker-dealer custody relationships with Goldman Sachs Execution and Clearing and J.P. Morgan Clearing Corp. Merlin’s clients now have easy access to all three providers through Merlin’s award-winning multi-prime reporting platform.

“In today’s market, managers and investors are seeking custodial solutions that reduce their counterparty risk and provide fully integrated, multi-custodian reporting analytics and risk data,” said Stephan Vermut, Founder and Managing Partner of Merlin. “Our agreement with Northern Trust addresses this need for our clients and grants seamless access to a bank custody provider with an unparalleled reputation for quality, safety and stability.”

“Northern Trust is delighted to add Merlin and its clients to our growing hedge fund custody and administration business – which now provides asset servicing for more than $90 billion in assets worldwide,” said Peter Cherecwich , Chief Operating Officer for Corporate and Institutional Services at Northern Trust. “Merlin’s technology, risk analytics, and multi-custody reporting capabilities are a strong complement to Northern Trust’s hedge fund services.”

As of June 30, 2009 , Northern Trust had assets under custody of US$3.2 trillion, and assets under investment management of $558.9 billion.

Merlin Securities has offices in New York and San Francisco and is a member of FINRA and SIPC. Recognized as the #1 prime broker for funds less than $1 billion by Alpha magazine’s 2008 hedge fund service provider survey for the second year running Merlin was the top-ranked non-algorithmic-driven firm and second overall among brokerages trading NYSE stocks as measured by arrival price, according to the 2008 Elkins/McSherry annual transaction cost survey.

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