These are more like “prime brokers” rather than “counterparties” in trade. How often do you assume that your prime broker will go out of business before your h

These are more like “prime brokers” rather than “counterparties” in trade. How often do you assume that your prime broker will go out of business before your hedge fund does? Unless you’re a big one (Citadel, Millenium), probably “never” (it’s the same with startup companies).