| Trading |
Most
institutional asset managers and institutional investors believe trade execution
flexibility offers an opportunity to enhance investment performance. Execution
quality is more than commission price per share. It includes the hidden
cost you don’t see by selecting a broker who is not the natural broker for
a transaction.
GlobalBridge
has the flexibility to execute securities transactions for our clients’
portfolios with a wide variety of brokers or dealers offering best execution.
Participating managers in traditional retail wrap programs generally execute
through the broker-dealer sponsoring the program. Leading retail wrap sponsors
seldom, if ever, appear as the broker-dealer institutional managers go to for
quality securities transaction execution. Yet in the traditional wrap program,
sub-advisors are expected to execute through such brokers.
In contrast, at GlobalBridge the assets are custodied
at an institutional custodian bank, and transactions are executed through
brokers and dealers offering best execution. GlobalBridge
has developed a trading desk, whereby individual trades are grouped (blocked),
and the broker or dealer offering the best qualitative execution is selected
for the transaction. We have relationships with a number of Electronic Communications
Network (ECN) brokers. These brokers offer instantaneous electronic execution
of selected transactions at competitive commission rates.
Additionally, we have relationships with a number of specialist brokers and dealers who
provide execution expertise in certain types of securities,
including small cap, mid cap, and ADR equity securities. Some brokers and dealers
provide us with research and execution software and services in exchange for commission
revenue. GlobalBridge only selects such brokers and
dealers when they are able to provide GlobalBridge
with quality execution services. GlobalBridge
continually monitors and analyzes the quality of execution received from our brokers.
This presents us with an opportunity to impact performance, reduce our operating expenses,
and maintain lower fees for our clients.
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|
| A
partial list of the brokers and dealers with whom we have established a
trading relationship: |
| Broker
or Dealer |
|
Type |
 |
 |
 |
| Archipelago |
|
ECN |
| Bear Stearns |
|
Traditional |
| BNY/ESI |
|
Traditional |
| Goldman Sachs |
|
Traditional |
| Instinet |
|
ECN |
| Jones & Associates |
|
Traditional |
| Merrill Lynch |
|
Traditional |
| Liquidnet |
|
Crossing Network |
| Merrill Lynch |
|
Traditional |
| Pershing |
|
Traditional |
| UBS Securities |
|
Traditional |
| UNX Trading |
|
ECN |
|
|
GlobalBridge
has developed a sophisticated straight-thru-processing (STP) trading methodology
that covers front to back processes of model portfolio submission, execution,
settlement, reconciliation and reporting. GlobalBridge
has partnered with Advent, who provides us with a sophisticated order entry
system, Moxy, and a portfolio accounting and reporting system, Axys.
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| Trade Executions |
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| Trade Allocations |
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Click
here for additional CUSTODY information. |
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