Introduction to Capital Market Operations
Prager operates full-service municipal sales and trading desks in both New York and San Francisco. The Firm's salespeople and traders actively trade long-term high grade bonds, taxable municipals, variable rate demand bonds and commercial paper, high yield bonds, and other fixed income securities. As a market-maker and provider of primary and secondary market liquidity to our customers, Prager employs a client- and credit-focused approach to the markets. We believe that this approach ultimately translates into the best execution for our clients.
The Firm has long-standing relationships with a large portfolio of institutional investor accounts. Prager's municipal sales, trading and underwriting department is comprised of five professionals with an average of 19 years of experience in the municipal bond sector. The capital markets group has long-standing relationships with a large portfolio of institutional investor accounts representing the nation's most active bond funds, trust departments, corporate buyers, and insurance companies. Prager boasts top-five relationships with several significant institutional clients, including Franklin Templeton funds, Wells Fargo Corporation (inclusive of the New York, Minnesota and San Francisco desks), American Century funds, Nuveen and Lord Abbett.
Prager is a leader in leveraging trading technology, advising its institutional customers and listing their securities on a number of electronic platforms. The Firm is involved in every major Electronic Communication Network (ECN) that supports the trading and reoffering of municipal bonds. This includes MuniCenter, an automated, electronic trading platform. As a web-based wholesaler, MuniCenter has effectively created an alternative distribution channel to reach the investor sector that relies on automated trading platforms.
In addition to the Firm's strong institutional relationships, Prager also maintains relationships with HSBC Securities, HSBC Private Wealth Management and IDB Capital through retail distribution agreements. By working with our partners, the Firm is able to combine the knowledge, experience and expertise of a long-standing municipal-only investment bank with the reach and distribution resources of larger retail-focused banks.