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.

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.

Prime Brokerage

Cowen’s Prime Brokerage team offers a wide range of services that can be tailored to meet the individual needs of investment managers. Whether you’re an emerging manager or more seasoned with an established business, the caliber and breadth of our offering can solve for your needs in a cost-efficient and strategic manner.

Log in to Client Portal

US Prime Brokerage 

We are uniquely equipped to service our clients’ needs and preferences with a team that contains a wide range of differentiated experiences and skillsets, including launching and managing hedge funds, investing with hedge fund managers, risk analytics, portfolio reporting, and trading and reporting technologies.

As a boutique Prime Broker, we offer insight into the balance sheets of some of the largest and best-known global custodians while providing high-touch operational support. Clients are offered access to Cowen’s Institutional Equity and Fixed Income Platforms, Conferences and Corporate Access, as well as our technology solutions which help facilitate portfolio and risk management decisions while being supported by aggregated reporting on assets held across a variety of custodians.

International Prime Brokerage

Through our London and Hong Kong based affiliates, Cowen provides a full range of prime brokerage and outsourced trading solutions to EU, EMEA and Asia based fund managers, including multi-asset custody, execution and financing.

Elevated Client Service at Every Turn

Our team is driven by the concept of investment outperformance. As 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. 

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 well over 100 clients with our team seasoned professionals.


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. 

Get in touch to learn more about our capabilities.

High Yield Bonds

Our team focuses on illiquid Corporate Bonds with a deep bench of seasoned professionals developing new ideas along with multiple desk-analysts. 

We have established a broad distribution network with active trading clients including insurance companies, mutual funds, hedge funds and family office managers, and we help clients express investment views via domestic, international, public, private, listed, OTC, physical, complicated settlements and participation transactions.

Get in touch to learn more about our capabilities.

Loans

Our experienced professionals have participated in hundreds of credit restructurings, gaining vital experience for helping accounts manage and trade restructured illiquid equities.

Get in touch to learn more about our capabilities.

Special Assets

Our Special Assets team’s primary function is to assist clients in monetizing illiquid assets. Our group has a deep track record identifying, analyzing, valuing, sourcing, negotiating and documenting opportunities in special situations and consistently provides innovative and strategic solutions that unlock value for our clients.

Get in touch to learn more about our capabilities.

Structured Investments

The Structured Investments Group provides structured financing solutions and capital for businesses and assets that leverages Cowen’s corporate finance, structuring, industry and distribution capabilities. With extensive global experience that spans a wide variety of asset classes, we consistently provide capital solutions through placement within our client network and utilization of Cowen’s balance sheet. 

Get in touch to learn more about our capabilities.

Securities Services

Our team of professionals provides a variety of services designed to help our institutional clients run their businesses more effectively. Whether it’s providing a customizable execution and clearing solution, access to traditional and non-traditional sources of inventory in the cash and financing markets or a fully compliant soft-dollar and commission management program, we deliver for our clients when they need it.

Global Clearing & Settlement

We provide one of the most innovative, customizable, efficient and client-focused global clearing platforms in the industry. Clients benefit from a wide range of resources and innovative clearing services. 

Get in touch to discuss how our global clearing services can help you outperform. 

Global Securities Finance

Cowen maintains a team of professionals with broad experience across the Securities Lending and Financing markets. Our team has a demonstrable record of providing clients with outperformance for long and short portfolios through innovative solutions.

Get in touch to learn more about our Securities Finance capabilities. 

Plan Sponsor Services

Our Plan Sponsor Services team helps over 1,000 asset owner clients reduce transaction costs, increase cash flow & conserve plan assets. Clients include corporate and public plans, Taft-Hartley plans, universities and endowments, financial institutions, and mutual funds.

Get in touch to learn more about our Plan Sponsor capabilities or log in to our portal if you’re already a client. 

Westminster: Commission Management Services

Westminster is a FINRA registered broker/dealer specializing in providing investment research and commission management solutions to the institutional investment community. Westminster RPA is a dedicated solution created specifically to address the unbundling requirements of MiFID II.

Get in touch to learn more about its CSA Aggregation and Research Payment Account services, or log in to the Westminster Research portal if you’re already a client. 


Awards

2020
  • HFM European Hedge Fund Services

    Best Boutique Prime Broker

2019
  • Best Boutique Prime Broker

    HFM US Hedge Fund Services Awards

  • Best Outsourced Trading Solution

    Hedgeweek USA Awards

  • Best Boutique Prime Broker

    HFM European Hedge Fund Services Awards

  • Best Outsourced Trading Provider

    Hedgeweek Global Awards

2018
  • Best Prime Broker

    Global Custodian Industry Leaders Awards

  • Prime Broker of the Year

    The Trade Leaders in Trading Awards

  • Best North American Prime Broker

    Hedgeweek USA Awards

  • Best Outsourced Trading Solution

    HFMWeek US Hedge Fund Services Awards

  • Best Boutique Prime Broker

    HFM European Hedge Fund Services Awards

  • Best Global Prime Broker

    Hedgeweek

2017
  • Best Boutique Prime Broker

    HFMWeek US Hedge Fund Services Awards

  • Best North American Prime Broker

    Hedgeweek USA Awards

  • Best Prime Broker – Innovation

    HFMWeek European Hedge Fund Service Awards

  • Best Global Prime Broker

    Hedgeweek

2016
  • Best Boutique Prime Broker

    HFMWeek

  • Best North American Prime Broker

    Hedgeweek USA

  • Best Global Prime Broker

    Hedgeweek

2015
  • Best Boutique Prime Broker

    HFMWeek

News

Joseph Genovese Joins Cowen as Head of Delta One Swap Sales

Read the article “Joseph Genovese Joins Cowen as Head of Delta One Swap Sales”
News

Cowen Cross-Asset Team Announces Six Key Hires, Continuing Expansion

Read the article “Cowen Cross-Asset Team Announces Six Key Hires, Continuing Expansion”
News

Cowen Accelerates Rapid Growth Of International Sales & Trading Operations With Key Hires And New Integrated Liquidity Sources

Read the article “Cowen Accelerates Rapid Growth Of International Sales & Trading Operations With Key Hires And New Integrated Liquidity Sources”

Conferences & Events

New York, NY

Oct 03, 2019

Cross Asset Summit

Markets Team

Our Markets team is led by pioneering and driven professionals with decades of experience across the industry.

A team sitting at a desk, with a focus on a woman, looking to her side and smiling at a colleague

Start a Conversation

Get in touch with our Markets team.