Sales and Trading
Fixed Income Sales and Trading
Oppenheimer trades public and private debt securities, mortgage-backed securities, sovereign and corporate debt of industrialized and emerging market countries and distressed securities both for its own account as well as for institutional clients qualified to sustain the risks associated with such securities. Additionally, Oppenheimer is a dealer and active participant in U.S. Treasury Securities and acts as an underwriter and secondary market participant in agency securities.
Government Trading and Finance
Oppenheimer is a full-service institutional U.S. Treasury and Agency dealer. We underwrite, distribute, trade and finance all the various maturities of Treasury and Agency issuance.
We are a full netting member of the General Securities Clearing Corp. and use Repo to fund desk and firm positions, as well as providing balance sheet liquidity to select customers. We are a Direct Bidding participant in Treasury Auctions and actively provide electronic pricing to customers through the Bloomberg FIT platform, as well as traditional inquiry.
In Agency product, we structure/underwrite directly with FNMA, Farmer Mac, FHLB and FHLMC. Our products include Discount Notes, Callable Securities, Bullets and Floating Rate Instruments. Additionally, we are actively involved in positioning and secondary distribution of all GSE securities.
Investment Grade Credit Trading
> More than 125 institutional sales professionals covering a wide variety of investment grade accounts across the spectrum. The desk covers approximately 1,500 active accounts, including: insurance companies, mutual funds, hedge funds and money managers
> Trading desk (3 traders) has an average tenure of almost 24 years in the financial services industry (more than 70 years combined) and transacts in the entire universe of investment grade securities, including: globals, euro mtns, 144A and RegS
> Covers the entire universe of investment grade issuers including: domestic and yankee banks, brokers, finance companies, insurance companies, pipelines, energy, oil and gas, chemicals, paper, aerospace/defense, metals/mining, reits, utilities, telecom/media, healthcare and pharmaceuticals, consumer products, retailers/grocers, universities, hotels, military housing and rails/transport
In addition to the tier 1 investment grade effort, Oppenheimer participates in the syndication of new issue corporate bonds and preferred stock.
Mortgage Backed Securities Trading
> More than 60 institutional sales professionals covering a wide variety of accounts across the spectrum. The desk covers approximately 600 active accounts, including: insurance companies, mutual funds, hedge funds, money managers and commercial banks/credit unions
> Trading desk (3 traders) has an average tenure of approx. 20 years each in the financial services industry (more than 70 years combined) and transacts in the entire universe of mortgage backed securities, including: agency and non-agency CMOs/derivatives, specified pools, pass throughs and adjustable rate mortgages
> Capabilities include both Agency secondary and new issue trading, CRA (Community Reinvestment Act) eligible mortgage backed pass-throughs, SBA paper and all types of fixed/floating rate MBS
In addition to the tier 1 investment grade effort, Oppenheimer is a leading market maker in retail size mortgage backed agency and non-agency securities.