SAN FRANCISCO, May 8, 2018 /PRNewswire/ -- 280 CapMarkets® today announced the full launch of the 280 BestX™ report as part of the company's best execution support to help independent advisors manage their clients' fixed income portfolios.
"Nearly every day, I see bonds trading on various platforms at higher prices than I've been watching them trade elsewhere," said Jason Ware, managing director and head of institutional trading with 280 CapMarkets. "We want to level the playing field for independent advisors and help them feel confident that they are obtaining the best bond pricing for their clients. We use an extensive pre-trade process that supports an advisor's best execution requirements by applying decades of best practice expertise. In addition, extensive tools and resources, including our BondNav® technology platform, help us achieve a successful outcome for advisors and their clients."
The regulatory requirement of best execution can pose challenges for many independent advisors: Comparing bonds in a decentralized market such as fixed income can be difficult and time consuming. The market lacks transparency to give advisors confidence that they've obtained the best price for a purchase or sale. Further, the duty to determine and document best execution takes valuable time away from serving their clients and growing their business.
"280 CapMarkets is adding value to the trading process," said Mike Galanowsky, One Capital Management. "From the pre-trade transparency of BondNav, through the steps taken by the 280 trading desk to evaluate and negotiate bonds, to the comprehensive post-trade documentation, 280 seamlessly supports our best execution requirement."1
280 CapMarkets empowers independent advisors to buy, sell, and manage bonds with confidence by employing four key components of best execution support:
Price transparency through technology: 280 CapMarkets' BondNav technology platform aggregates data from multiple market sources to allow advisors to more easily canvas the bond market with comprehensive pre-trade price transparency.
Pre-Trade Review: Trade orders initiated through BondNav or the 280 Advisor Liaison Desk are reviewed by an experienced fixed income trader and undergo a thorough price and structural review prior to execution, including bond attributes, material events, and disclosures. This helps advisors identify potential risks and opportunities for their clients.
Market-making capability: 280 Securities leverages extensive Wall Street relationships and market-making capabilities, putting the firm's capital to work in the marketplace, to negotiate on behalf of advisors and their clients, which can deliver better value.
Comprehensive 280 BestX™ documentation: 280 BestX thoroughly documents the market for an individual bond at the time of trade including:
other bonds offered from the issuer
other bonds offered in the series
documentation of the trader's process in support of best execution
"280 BestX documentation was designed to give independent advisors a comprehensive and easy-to-read summary of the prevailing market at the time of the trade, as well as the actions taken to achieve best execution," said Dave Hsu, chief compliance officer for 280 CapMarkets. "This helps advisors maximize their business efficiency while addressing their regulatory requirement with confidence."
About 280 CapMarkets 280 CapMarkets combines the experience and execution services of a traditional broker-dealer (280 Securities LLC, a member of FINRA/SIPC) with a cloud-based technology platform to provide intuitive bond trading ideas, access to a broad offering of bonds, and greater pricing transparency. 280 CapMarkets serves investment advisors and wealth managers, and uses its balance sheet to provide liquidity in the fixed-income markets. Headquartered in San Francisco, 280 CapMarkets has offices in New York, Seattle, and Los Angeles County. To learn more please visit 280capmarkets.com.
1This testimonial may not be representative of the experience of other customers and is not a guarantee of the future performance of success.