Markets

Cowen provides innovative and customizable trading solutions to help our clients outperform. As a completely non-conflicted platform, Cowen’s interests are 100% aligned with institutional investors.

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Global Equities

Our Sales and Trading team complements our premier research brand with world class distribution capabilities, market intelligence and client partnerships. Our institutional sales force is recognized for its extraordinary depth, continuity of product knowledge and high touch client service and are well-versed in providing value-added calls to clients across the capital structure.

ADR Trading

Dedicated 24-hour technology and support to guide clients through the complexities of ADR trading. Get in touch to learn more about our capabilities.

Algorithmic Suite

Global Data-Driven Algorithmic Strategies with a cutting-edge focus on market microstructure, portfolio execution optimization, anti-gaming, short term alpha modeling and execution optimization. Get in touch to learn more about how our uniquely nimble infrastructure allows us to quickly customize algorithmic solutions.

Alternative Strategies- Event Driven and Derivatives

Cowen’s Derivatives team partners with clients to create and implement customized trading solutions and strategies. Our experienced team provides clients with differentiated and actionable trade ideas that leverage both Cowen’s leading fundamental research and market intelligence from the trading desk. Get in touch to learn more about how research supports our Alternatives Strategies capabilities.

Cash Sales & Trading

We are a top US broker in cash equities for institutional clients with excellence in equity research and market intelligence, as well as Sector expertise that allows us to provide ideas and solutions that help clients achieve superior returns. Get in touch to discuss your goals in more depth.

ETF Trading

Our ETF desk provides expert guidance and execution to clients helping to reduce slippage and maximize revenue. We serve as one point of contact for all exchange traded products across cash and swaps. Cowen differentiates itself through Liquidity, Access, ETF Direct^®, and most importantly building deep client relationships. Get in touch for more information about our ETF capabilities.

Global Portfolio Trading

Execution strategies are created specifically for our client’s needs utilizing Cowen’s sophisticated, quantitative analytical tools and supported by our ability to trade in 100 global markets. Get in touch to learn more about our capabilities.

Global Trade Execution

Our dedicated trading desk is accessible and available to assist clients through electronic and high-touch services. We have global, multi-asset trading in eight countries, 35 electronic and our combination of experience, advanced technology and access to diverse sources of liquidity enables us to deliver consistent, performance-driven results in over 100 market centers worldwide. Get in touch to learn more about our capabilities.

Special Situations

Cowen is a market leader in US SPAC execution with our Special Situations team primarily focused on delivering alpha-generating ideas such as pairs, swap and arbitrage trades, and the subsequent liquidity necessary to execute them. Get in touch to learn more about our capabilities.

Swap/Delta One

Cowen provides differentiated Delta One Portfolio and Total Return Swap Product Synthetic Financing offerings. Get in touch to learn more about our capabilities.

Global Prime Brokerage

Cowen’s award-winning, global Prime Brokerage team offers a full suite of institutional services that can be customized to meet the individual needs of investment managers, at any stage of their business. Whether you’re an emerging manager, managing an established fund or a mature fund, the caliber and breadth of our offering can solve for your needs in a cost-efficient and strategic manner – allowing you to focus on generating alpha and building your business

As long-term partners, we recognize that our clients’ success is our success, and we make it our mission to provide the resources and support that enable clients to perform at the highest levels while remaining focused on beating their benchmarks and peers.

If you’re currently a Cowen client, log-in here. Or, start a conversation to learn more about our full range of offerings.

Capital Introduction

Helps clients to secure capital and to grow
Experienced global capital intro team with differentiated
network across Europe, Asia & US
Facilitates highly targeted introductions with a network of
1,000+ investors targeting emerging and mid-sized funds
Focuses on the investment merits and aligning
investment strategies, operational capabilities and
performance track record

Trade Execution & Custody

Custody and clearing across all asset classes
Electronic and high-touch execution
Access to 75+ financial markets worldwide
Access Cowen’s outsourced trading solutions
Leading technology aimed at facilitating portfolio and risk management decisions
Comprehensive, aggregated reporting on assets held across a variety of custodians

Securities & Lending

Access borrow through multiple clearing firms and Cowen’s stock loan desk
Short sales of ETB securities with electronic approvals through execution systems
Fully-paid-for securities lending allows incremental returns on holdings
Proactive client account review and facilitated lending on behalf of clients

Outsourced Trading

Helps clients to secure capital and to grow
Experienced global capital intro team with differentiated network across Europe, Asia & US
Facilitates highly targeted introductions with a network of 1,000+ investors targeting emerging and mid-sized funds
Focuses on the investment merits and aligning investment strategies, operational capabilities and performance track record

Client Reporting Suite

Comprehensive portfolio, risk, performance/accounting analytics and reporting suite – including real-time portfolio analytics
Dashboards, metrics and reports tailored to meet your needs
Data supplied in various formats and easily uploaded to your systems

Portfolio Financing

Optimized account and portfolio financing using internal risk tools
Relationships with multiple underlying finance providers, including Cowen
Varying options based on investment strategies, asset classes and risk factors
From traditional Reg T accounts to those with varying degrees of enhanced leverage

Middle & Back Office Support

Operations support delivered as a fully integrated solution
Full administration, operations and reporting support including clearance and settlement, daily trade reconciliation and end-of-day file transmissions
Client portal allows you to book, view and track trades
in real-time
Customised pre- and post-trade compliance monitoring

New Launch & Business Consulting

Guidance on how best to launch a new fund and grow a business
Ongoing support in all areas including growth options, new hires and seed investor opportunities
Consulting expertise based on extensive experience building investment firms from start-up through all stages of their lifecycle
Hundreds of successful launches and growing funds supported over the years

Commission Management

Provided by Westminster Research Associates LLC, a leading provider of investment research and commission management solutions
Specializing in commission sharing arrangements (CSA) and research payment accounts (RPA)
Monitoring, control, record-keeping, reporting of research funding and payments

Institutional Platform

Leverage the full suite of institutional services from the Cowen group
Includes research, conferences and corporate access events
Access specialist sector expertise, deep insights and unique intellectual property in a number of high growth markets

Outsourced Trading

Cowen’s global Outsourced Trading team provides investment managers with a first-rate, cost efficient solution for their trading needs. Our offering is full service, multi-asset class and differentiated by its transparency and level of operational support. We place client-service at a premium, currently serving over 200 clients with our team of 40 plus seasoned traders.

ELEVATED SOLUTIONS WITH GLOBAL REACH

Cowen provides a high-touch, comprehensive outsourced trading solution, or supplements an existing trading operation, to meet each client’s specific needs. We leverage our established and experienced team of traders in New York, Stamford, San Francisco, Atlanta, London, and Hong Kong, along with our existing international network of brokers. Our global network provides a greater breadth of information than a traditional in-house trading desk.

INTEGRATED SEAMLESS SUPPORT

Our outsourced trading solution provides exceptional value as the client’s trading desk, while averting the cost of building and operating an in-house infrastructure. This allows managers to convert a host of fixed costs into variable ones that can be managed on a pay-as-you-go basis. Our outsourced trading model relieves the burden of managing people and technology, so clients can concentrate resources on alpha-generating functions, including research, portfolio construction, and risk management.

Capital Introduction & Commission Management

Our approach to Capital Introduction allows us to be helpful to hedge fund clients as we assist them to better understand their performance and the interest among allocators in their strategies, while our Commission Management offering provides fully compliant soft-dollar and commissions sharing management and access to independent research and brokerage services.

FOREIGN EXCHANGE, COMMODITIES AND FUTURES

The foreign exchange, commodities and futures team accesses markets across the globe, servicing our client base that includes traditional and alternative investment managers. Our experienced professionals offer clients high-quality execution and exceptional client service.

Start a conversation to learn more about our full range of Outsourced Trading services.

Cross-Asset

Our global Cross-Asset team specializes in distressed and special situations, focusing on event-driven and credit intensive, cross capital situations. We deliver sales and trading capabilities across a wide range of fixed income asset classes, as well as public and private corporate securities.

Convertibles

Cowen makes active Convertible markets with robust secondary trading and is a valuable source of information as well as liquidity for all investment needs. We are also an active new issuer in the convertible space.