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 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 unconflicted, buy-side trading capabilities and support, allowing investment managers to outsource their entire desk or supplement an existing trading operation – with a shared ambition to outperform.

With Cowen, hedge funds and institutional asset managers of all sizes can expand their trading operations with our multi-asset class offering, delivered by highly experienced traders. Coverage includes Equities, Fixed Income, Foreign Exchange, Derivatives, Futures & Options.

Leveraging 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, allows us to provide a greater breadth of information than a traditional in-house trading desk.

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 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.

With offices in the US and UK, the Cowen Global Securities Finance team provides clients with real time insights to the Securities Lending markets and access to competitive and stable supply.

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

Offering includes:

  • Synthetic Financing through Total Return and Portfolio Swaps
  • Fully Paid for Lending
  • Short Sale Locate Services – Clients can connect via a web portal or FIX protocol
  • Matched Book Securities Lending
  • Equity Repo
  • Corporate and Convertible Bond Financing
  • Long / Short Financing for Cowen Clearing Clients and Prime Services

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

2021
  • Best Boutique Prime Broker

    HFM US Services Awards

  • Best Outsourced Trading Solution

    HEDGEWEEK EUROPEAN AWARDS

  • Best Outsourced Trading

    HFM EUROPEAN SERVICES AWARDS

2020
  • Best Boutique Prime Broker

    HFM EUROPEAN HEDGE FUND SERVICES

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

Awards

2021
  • Best Outsourced Trading Solution

    HEDGEWEEK EUROPEAN AWARDS

2019
  • Best Outsourced Trading Solution

    HEDGEWEEK USA AWARDS

  • Best Outsourced Trading Provider

    HEDGEWEEK GLOBAL AWARDS

2018
  • Best Outsourced Trading Solution

    HFMWEEK US HEDGE FUND SERVICES AWARDS

News

Cowen Bolsters Alternative Strategies Global Advisory Team With Four Senior Hires

Read the article “Cowen Bolsters Alternative Strategies Global Advisory Team With Four Senior Hires”
News

Cowen Expands Global Capital Introduction Team, Providing Extended Solutions for Prime Brokerage and Outsourced Trading Clients

Read the article “Cowen Expands Global Capital Introduction Team, Providing Extended Solutions for Prime Brokerage and Outsourced Trading Clients”
News

Mark Kelly Joins Cowen Execution Services Limited as Global Head of Alternative Equity Strategies

Read the article “Mark Kelly Joins Cowen Execution Services Limited as Global Head of Alternative Equity Strategies”

Conferences & Events

Virtual

Feb 08, 2022

43rd Annual Aerospace/Defense & Industrials Conference

Learn More
Virtual

Dec 01, 2021

2021 Energy Summit

Learn More
Virtual

Nov 29, 2021

4th Annual Cannabis Conference

Learn More

Markets Team

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

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Get in touch with our Markets team.