New York (HedgeCo.net) – TradeStation Securities, Inc., has launched the TradeStation Prime Services division to fill the growing need of start-up to mid-sized hedge funds, the company said today.

TradeStation Prime Services will be co-headed by Lance Baraker and William Katts, as senior managing directors, from a new TradeStation office in mid-town Manhattan, TradeStation will also now have a full membership and direct access operation on the floor of the New York Stock Exchange to accommodate clients who make some of their trades on the NYSE floor.

“We believe that our award-winning trading platform technology, ability to provide custody and clearing, and the strength of our balance sheet will give us a strong offering to the small- to mid-sized hedge funds and investment advisers who need services no longer being provided by the larger firms,” said Salomon Sredni, CEO of TradeStation Group. “This is a market opportunity for TradeStation that did not really exist until recently, and we look forward to maximizing the value we believe we can create by entering this segment of the institutional trader space.”

“We are extremely excited about joining TradeStation,” added Baraker. “The downfall of many financial firms in 2008 has created a rare opportunity for another custodian to enter and succeed in the prime brokerage market. William and I look forward to combining our experience and relationships built over the years with TradeStation’s industry-leading technology to create a leading, powerful prime brokerage platform for the buy-side institutional trader.”

Tags: brokerage market, hedge funds, investment advisers, prime brokerage services, prime services