Behind the data: why Finadium’s prime brokerage equity finance revenues are higher than other estimates

Finadium published our 2025 review of prime brokerage equity finance revenues this week – this is what brokers are earning from securities lending, margin financing and synthetic financing including Total Return Swaps. Our headline number was a revenue estimate of US$37 billion across global prime brokerage revenues for 2025, which is 23% higher than another known figure. This article provides background information on our methodology and reasons for the difference.
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