JonesTrading Institutional Services LLC, a leading agency brokerage, which provides institutions with block trading of U.S. and global securities, announced today that the ITG Broker Edge survey ranked JonesTrading first in best execution of large trades (more than 50,000) and first in most difficult large trades for the Specialty Brokers category. The survey is based on four quarters’ U.S. equity trading data for the period ending June 30, 2009.
The survey confirms the continued success of JonesTrading’s relationship-based agency model, which is designed to secure large block transactions often in difficult to trade situations. As evidenced by the “large trade” category measured by the survey, institutions continue to look for block trading opportunities even as transaction size has contracted in the overall trading environment.
JonesTrading provides block trading opportunities and secures liquidity beyond what is available in the displayed markets by proactive sourcing pent-up liquidity between clients. The firm’s trading capability is most important to its institutional clients in volatile markets, illiquid stocks (especially small and mid-cap), and event and tough-to-trade situations.
Said Packy Jones, Chairman and CEO of JonesTrading: “For 35 years JonesTrading has been committed to relationship-based block agency trading. Each trading day the buy side has come to rely on our ability to access liquidity that would not be available absent the broad and deep knowledge that we have of our clients’ holdings, trading strategies, and investment style. Our clients consistently find that we can execute complex strategies across the bulk equity issues. We are grateful for the trust and confidence our clients place in us and we believe that this survey is a reflection of that trust and confidence.”