Tuesday, 2 September 2014
Last updated 8 hours ago
Apr 7 2008 | 2:15pm ET
Agency brokerage firm JonesTrading Institutional Services has expanded its offerings to include distressed debt trading.
According to the firm—which sources liquidity from the largest institutions and hedge funds in North America through a network of over 80 sales traders—its 30-year-old equities trading model will now be applied to distressed debt for the first time. The move is aimed at offering clients an alternative to traditional capital intensive or electronic trading mechanisms.
The firm has recruited industry veteran Kerry Stein as managing director to head the new distressed debt group. Stein brings over 20 years of experience in building bond businesses and operations to his new role. Most recently, he was managing director and head of high yield trading at Morgan Joseph & Co. At JonesTrading, he will report to Will Geyer, president and chief operating officer, and will serve on the firm’s executive committee.
“Our review of the current securities industry markets indicates that in these difficult times clients find it more challenging than before to secure alpha and best execution,” says Packy Jones, chairman of JonesTrading.
“Critical to those goals is the ability to construct multi-instrument trading strategies while having an in-depth understanding of markets and market conditions. By deploying the already successful JonesTrading approach in equities to distressed debt, we are able to give clients a more complete package as they execute their strategies.”
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...