Onboarding speed with new LPs – feeling the drag
Anyone else finding the onboarding process with new liquidity providers or even just expanding into new broker relationships an absolute crawl lately? We're trying to diversify our prime broker setup, get some better feeds for certain pairs, and the KYB/AML hoop-jumping feels like it's designed by a consortium of snails. Used to be able to get through initial docs and basic API access within a couple of weeks if you had your ducks in a row; now it's months for some. Just me, or is the regulatory vise tightening up across the board for all you operators out there? Makes you wonder if they're deliberately slowing things down to protect incumbents, or if the compliance departments just tripled their headcount and haven't figured out how to use the internet yet. Any tricks to greasing these wheels beyond just endlessly chasing paper?
It's like they've decided to replace all the people with particularly lethargic sloths, isn't it? I'm convinced half the 'due diligence' is just seeing how long you're willing to wait before giving up and going to the pub.