Merlin Securities, a prime brokerage services and technology solutions provider, has entered the Canadian marketplace after receiving approval from the Investment Industry Regulatory Organization of Canada to operate as a dealer member.
The firm has named Daniel Dorenbush as CEO of Merlin Canada Ltd. The company will offer custody and clearing through the National Bank Correspondent Network (NBCN), a subsidiary of National Bank Financial, in addition to Merlin’s current roster of U.S. clearing and custodial options.
“We are delighted to have Daniel on board and to be working with NBCN, the Canadian leader in third-party and brokerage services,” said Aaron Vermut, co-founder and chief operating officer? of Merlin and chair of Merlin Canada Ltd. “As the first and only introducing prime brokerage services company in Canada, we see a significant opportunity both for Merlin and for Canadian managers.”
Merlin has more than 500 hedge fund clients in the U.S. and will pursue relationships with Canadian hedge funds.
