Prime Broker Integrated Network
Centralizing SIA-150 and SIA-151 agreements for prime brokerage operations. A secure network connecting executing brokers, clearing firms, and prime brokers for agreement management.
Part of Loffa's broker-dealer compliance automation platform and settlement workflow automation solutions.
The Problem
Fragmented Agreement Management Creates Systemic Risk
Prime brokerage runs on multi-party agreements under the SEC staff's 1994 no-action letter. SIA Form 150 is the industry's standard agreement between the prime broker and the executing broker, and the SIA-151 is a separate clearance agreement between the customer and the clearing broker on the executing side. Managing SIA-150 and SIA-151 forms across dozens of counterparties using email, fax, and spreadsheets creates dangerous gaps in compliance coverage.
- ✗ Agreements scattered across email inboxes and file shares
- ✗ No centralized view of agreement status across counterparties
- ✗ Manual tracking of SIA-150/151 form submissions and approvals
- ✗ Expired agreements go unnoticed until regulatory examination
- ✗ Notification obligations missed between prime and executing brokers
The Solution
One Network. Complete Visibility.
PBIN creates a single, secure network where all prime brokerage agreement participants can manage their agreements and the obligations in them. When the prime broker and the executing broker both use PBIN, they work from the same SIA-150 and F1SA records, with shared notifications and compliance tracking. The clearing firm on the executing side keeps its customers' SIA-151 clearance agreements in PBIN too, on its own side. PBIN works hand in hand with FVD: once an F1SA for an account is on file in PBIN, FVD adds an exception for that account number and stops sending Letter of Free Funds requests for it.
- ✓ Centralized hub for all prime brokerage agreements
- ✓ Automated SIA-150/151 form routing and processing
- ✓ Agreement status visible to both firms when both use PBIN
- ✓ Automated expiration alerts and renewal notifications
- ✓ Complete compliance documentation for FINRA examinations
- ✓ F1SAs on file stop Letter of Free Funds requests in FVD
Capabilities
Key Features
Built for the unique complexity of multi-party prime brokerage compliance.
Centralized Management
Single platform to manage all prime brokerage agreements across counterparties. No more searching through emails, shared drives, or filing cabinets to find current agreement status.
SIA-150/151 Processing
Digital submission, routing, and approval of SIA-150 and SIA-151 forms. Automated validation ensures completeness before routing to counterparties for review and execution.
Automated Notifications
Configurable alerts for agreement expirations, pending approvals, counterparty actions, and compliance deadlines.
Agreement Tracking
Real-time visibility into the lifecycle of every agreement -- from initial submission through execution, amendment, and renewal. Status dashboards highlight items requiring attention.
Compliance Dashboard
Executive-level dashboards provide instant visibility into compliance posture across all prime brokerage relationships. Drill down into individual agreements or roll up across the entire book.
Secure Network
Encryption in transit and at rest, role-based access controls, and multi-factor authentication ensure that sensitive agreement data is accessible only to authorized counterparty representatives.
Outcomes
Transform Your Prime Brokerage Operations
PBIN delivers measurable improvements to agreement management efficiency and exam readiness.
Single
Source of Truth
All agreements, forms, and correspondence in one centralized, searchable platform. Eliminate the risk of working with outdated or incomplete agreement records.
75%
Faster Agreement Processing
Digital routing and automated validation dramatically reduce the time between agreement initiation and execution across all counterparties.
Instant
Exam Readiness
Generate agreement compliance reports on demand. Complete agreement history and audit trails available at the click of a button.
Watch
SIA-150s and F1SAs After Self-Clearing
Part 3 of our series Moving to Self-Clearing. When a firm starts clearing its own trades, the prime brokerage forms its clearing firm handled come to it from both directions. The episode covers the SIA-150, the F1SA, and the SIA-151, what a missing form costs the executing broker, what an examiner asks to see, and how PBIN and FVD work together. Narrated and captioned, 5:57.
Moving to Self-Clearing, Part 3: Prime Brokerage Forms. 5:57, captioned.
See PBIN in Action
Schedule a personalized demo and see how the Prime Broker Integrated Network can centralize your prime brokerage agreement operations.