– GTS and Veteran-Owned Mischler Financial Group Forge High-Tech, High-Touch Alliance to Serve Corporate Issuers, Investment Managers and Other Market Participants –

New York, NY – November 19, 2018 – GTS, the New York Stock Exchange’s largest Designated Market-Maker (“DMM”) and a leading electronic trading firm, and Mischler Financial Group, Inc. (“Mischler”), the financial services industry’s oldest minority broker-dealer owned and operated by service-disabled veterans, today announced a strategic alliance that will establish a best-in-class offering for primary debt and equity market underwriting as well as secondary market best execution across the capital markets.

The partnership, which is anchored by a technology-powered offering for public companies and a broad universe of capital markets participants, will yield a low-cost, more efficient and more effective trade execution experience. Mischler will become a “forward operating base” for the growing GTS capital markets franchise, affording clients access to technology and sources of liquidity that are generally only available to the world’s most sophisticated investors.

(l)Ari Rubenstein,GTS co-founder & CEO (r) Dean Chamberlain (SDV),CEO,Mischler Financial Group

Founded in 2006 as a proprietary, quantitative trading firm, GTS is now a recognized leader in market structure and proudly oversees trading for more than one-third of NYSE-listed companies. The firm has an extensive track record developing and deploying proprietary, industry-best technology to bring better price discovery, trade execution and transparency to the markets.

“This is a high-tech, high-touch partnership designed to meet the needs of a new generation of issuers, asset managers, and trading and investment professionals seeking low-impact market liquidity and best-in-class execution,” said Ari Rubenstein, Co-Founder and Chief Executive Officer of GTS. “Clients are rightfully demanding innovation in the marketplace, and this alliance is uniquely designed to provide that and much more.”

Mischler, established in 1994, is an active underwriter across global equities, corporate and municipal debt, government securities and structured products. In the last three years alone, Mischler has played a role in almost 700 primary debt and equity market transactions. The firm also provides conflict-free share repurchase services for corporate treasurers as well as secondary market trade execution in equities and fixed income for a discrete universe of public plan sponsors and institutional investment managers.

Dean Chamberlain, Mischler’s Chief Executive Officer and a West Point graduate and former U.S. Army Officer, added: “The combined GTS-Mischler offering holistically provides a powerful arsenal of primary and secondary market solutions for the most demanding capital markets constituents. Mischler’s pedigree, capital markets expertise and front-line position – where we engage with a discrete network of corporate treasury executives and investment managers – is now further strengthened by the unrivaled technology and multi-asset trade facilitation platform that GTS has pioneered.”

Mischler is a fully-certified Service-Disabled Veteran Business Enterprise (SDVOBE) and FINRA’s oldest veteran-owned investment bank and institutional brokerage. “For issuers and investment managers focused on retaining truly expert capabilities while fulfilling their Diversity & Inclusion goals, the combined GTS-Mischler platform will not merely meet, but will exceed all expectations,” added Mr. Chamberlain.

Mr. Rubenstein concluded: “This partnership is another trans-formative moment for the build-out of our capital markets business and reflects the next phase of an evolution in which GTS and Mischler constituents can more easily access and benefit from quantitative, algorithmic, and next generation AI applications. The current environment and the landscape of the future will reward market participants who responsibly leverage technology. If we can arm all investment professionals with these assets, they can thrive in new ways.”

To read the entire story, please visit www.mischlerfinancial.com/mischler-gts-connection

NYSE DMM GTS Making Markets Better: Aligns With Boutique Investment Bank Mischler

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Of equal importance, throughout its history, the firm has committed resources and year-round financial support to veteran-centric legislative initiatives, career building and mentoring veterans. This includes support of philanthropic programs focused on improving the quality of SDVs and their families’ lives as well as charitable programs that concentrate on supporting the families of military men and women who made the ultimate sacrifice in the course of serving our country.

Mischler Financial Group CEO Dean Chamberlain

In connection with the firm’s year-round philanthropic mission, the months of May and November are specifically dedicated to honoring Memorial Day and Veterans Day. During these two months, Mischler contributes a percentage of the firm’s profit to select organizations that according to Chief Executive Officer Dean Chamberlain, a West Point grad and certified SDV,  “We deploy support to organizations that have a positive impact on the lives of vets, SDVs and Gold Star family members who simply do not have the depth of resources that so many of us take for granted.”

In honor of “Memorial Day Month 2018,” Mischler announced its annual pledge to the Semper Fi Fund, one of the country’s highest-rated charities. Formed in 2004, “SFF” is committed to providing immediate financial assistance, education scholarships, career transition programs and life-time support to post-9/11 combat wounded, critically ill and catastrophically injured members of all branches of the U.S. Armed Forces and their families.  Since its inception, Semper Fi Fund has distributed over $167 million to more than 20,000 service members and their families and MFG is therefore privileged to continue our support of SFF.

Stated Chamberlain, “On behalf of the entire Mischler Financial Group family, we are grateful and honored that clients of our firm will be supporting our Memorial Day Month 2018 pledge via our trading and capital markets desks and/or direct contribution to SFF.

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Dean Chamberlain, Chief Executive Officer of Mischler Financial Group stated, “Since we opened our doors nearly 25 years ago, our mission has been binary. Our business ethos is to not only serve the marketplace needs of Issuers, state and local governments and institutional investment managers with the highest degree of market proficiency and integrity, but to also share the rewards of our efforts by supporting men and women injured while defending our freedoms and the families of those who made the ultimate sacrifice.” Added Chamberlain, “Thanks to the opportunities presented by our clients, we take great pride in paying forward by supporting carefully selected philanthropies throughout the year. When paying tribute to Veterans Day in particular, we believe CFPF exemplifies Gold Star recognition.”

About Children of Fallen Patriots

Nearly 20,000 dependents have been left behind by troops killed in the line of duty over the last 35 years. Many surviving families struggle to make ends meet with 63% of surviving spouses making less than $50,000 per year. CFPF scholarships and financial assistance, funded by loyal donors and corporate sponsors, have assisted nearly 1000 bright and motivated students throughout their undergraduate studies. The vision of CFPF is to ensure that every child of a fallen patriot receives all necessary college funding. The organization’s website is www.fallenpatriots.org

About Mischler Financial Group

Mischler Financial Group, Inc. is a federally-certified Service-Disabled Veterans Business Enterprise (SDVOSB). We provide capital markets services across primary debt and equity markets, secondary market agency-only execution within the global equities and fixed income markets, and asset management for liquid and alternative investment strategies. Clients of the firm include leading institutional investment managers, Fortune corporate treasurers and municipal officials, public plan sponsors, endowments, and foundations. The firm’s website is located at http://www.mischlerfinancial.com.

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Larry Peruzzi, Mischler Financial Group

According to Larry Peruzzi, Managing Director and Head of International Equities for agency-only firm Mischler Financial Group, “The feedback we continue to hear from buy-side traders is consistent with the latest Greenwich Associates survey; investment managers want premium high-touch coverage from boutique BDs that can also provide best-in-class order routing and trade execution technologies.” Added Peruzzi, “Large investment managers are still looking to a broker’s research capabilities in the course of adding to a broker-rotation schedule, but the unbundling movement has made independent equities research, including those that have ‘buy-sell-hold’ recommendations, a commodity item that can be obtained away from those captive investment manager-executing broker relationships.”

(Traders Magazine Aug 2 2016)– As ‘bulge bracket’ brokers are faced with ever tightening budgets and focusing more on their larger institution accounts, the mid- and small-size brokers are poised to snatch up those clients left without an executing broker.

The bulge firms, after years of shrinking commissions amid a unique confluence decreased trading volumes, increased technology spend and a heavier regulatory compliance burden have shed staff and cut costs to the bare bone. Thus, having to make due with smaller trading desks and providing a modicum of service expected from the top tier banks, other brokers have been able to step in and grab underserved customers. And more importantly, the commissions that come along with providing both execution and research services.

“We’re definitely seeing this trend right before our eyes here,” said Doug Rivelli, co-head of US equity sales and trading at Auerbach Grayson. “As the trend of unbundling commissions has taken hold on a global scale, the traditional trading desk has had to become more focused on execution quality and broker trading services and firms like us have been able to capture market share.”

This phenomenon was reported also by market consultancy Greenwich Associates, who reported this week that mid-sized/regional brokers’ share of commission payments from institutional U.S. equity trades is increasing.

According to Greenwich, a s recently as 2007, the nine leading bulge-bracket brokers captured 78% of commissions paid by institutional investors on trades of U.S. equities. This year, they are claiming only 60%–down a full two percentage points from 2015. Much of the lost share has flowed to mid-sized/regional dealers, which as a group now take home 28% of U.S. equity commissions, up from just 11% in 2007.

To continue reading the coverage from Traders Magazine senior editor John D’Antona, please click here

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Per below job posting, along with all other career opportunities posted to the firm’s website, SDVs and military veterans get the first shot at career opportunities available at each of the firm’s 8 offices nationwide. Mischler Financial Group has been recognized in each of 2014, 2015 and 2016 by Wall Street Letter’s Annual Award “Best Research / Broker-Dealer”

Job Title: Fixed Income Analyst / Operations

Job Description:
Support Capital Markets front office in a primary and backup capacity along with auxiliary support to the Sales & Trading.  Essential duties and skills include:
•    Assist Capital Markets Team on all deal-related responsibilities. These include, but are not limited to compliance requirements, order book management, allocation, processing, reporting, post transaction settlement
•    Monitor front to back trade flow and ensure all trades are captured properly; reconcile trades in timely and accurate manner; book, report, and confirm new trades
•    Assist in resolving trade discrepancies caused from failures, breaks, discrepancies, etc.; Provide product control support relating to profit and loss issues
•    Provide excellent and outstanding customer service; Develop standard processes to route customer queries to correct department for timely resolution
•    Continually modify and improve on existing internal processes and systems as well as new ones
•    Assist in creation and maintenance of Mischler Financial Group’s marketing materials
•    Assist in general business development and administration

For the full opportunity, including required qualifications, please visit Mischler Financial Group Inc.’s Job Opportunities page

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(MarketsMuse.com)-With close-on $29Trillion in deposits and $1.3Trillion in AUM, BNY Mellon (NYSE:BK), the oldest bank in the U.S. is not just the country’s biggest, it ranks as one of the world’s biggest banks. Hundreds of financial industry professionals now working across the financial markets ecosystem are alumni of BNY Mellon, long-recognized as the top training ground for those who aspire to long-term professional careers within financial services.

While many “BNY” alum (including MarketsMuse senior editor) fondly recall an on-boarding process in which mentors made humorous reference to Alexander Hamilton’s orders to his top executives immediately prior to his ill-fated duel with Aaron Burr (“Don’t do anything until I return..”), most followers of BNY Mellon know that its culture is driven by perseverance and a focus to make sure no stone be left un-turned in the course of overcoming a challenge. In that spirit, a young, London-based BNY Mellon exec by the name of Charlie Thompson, a former professional Rugby star who cashed-in his sports career in favor of banking, deserves a hero’s award for re-uniting an industry colleague and highly-decorated Vietnam War hero and currently Managing Director, Public Finance for minority broker-dealer Mischler Financial Group with an invaluable piece of his personal history.

While Thompson was on holiday last year touring Vietnam, he came across a souvenir hut whose items included a set of US military dog-tags and  purchased them with the goal of hopefully tracking down the owner and returning them. It turns out those dog-tags had been lost nearly 48 years ago by former US Marine Infantry Officer Rick Tilghman, who while serving in Southeast Asia, was awarded not one, but two Purple Hearts and The Bronze Star (with Valor).

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(r) Mischler Fixed Income Trader Glen Capelo (c) Duke University Coach K” Krzyzewski (r) Mischler CEO Dean Chamberlain

Oct 5 2015–Stamford, CT and Newport Beach CA–Mischler Financial Group, Inc., the financial industry’s oldest and largest institutional brokerage and investment bank owned and operated by Service-Disabled Veterans is pleased to have served as a Silver Sponsor for the 2015 Army Ranger Lead The Way Fund Gala. Silver Sponsors contributed a minimum of $25,000; proceeds to Lead The Way are dedicated to support service-disabled US Army Rangers and the families of Rangers who have died, have been injured or currently serving in harm’s way around the world.

This year’s annual gala took place September 30 at New York’s Chelsea Piers and NBC News Anchor Tom Brokaw served as Master of Ceremonies. The 2015 Lead The Way event paid tribute to 5-time NCAA champion and college basketball legend Mike “Coach K” Krzyzewski, a US Military Academy at West Point Graduate (USMA ’69) and a former classmate of Mischler’s Founder and Chairman Walt Mischler. Coach K served two tours of duty prior to his career as a world famous university basketball coach.

Mischler Financial’s VP of Capital Markets Robert MacLean (USMA ’02), who served seven years as a US Army Ranger and is a two-time recipient of the Bronze Star, served as a member of this year’s Lead The Way Fund Host Committee. MacLean shared that honor with a short list of military veterans who have since forged a path on Wall Street at firms that include among others, Goldman Sachs, JPMorgan, UBS, Credit Suisse, Barclays, and Fortress Investment Group.

After Coach K retired as a Captain in the US Army, he then served five years as Head Coach for the USMA before accepting the role of Head Basketball Coach for Duke University’s Blue Devils in 1980. During the past 35 years, Coach K has not only led his team to five NCAA champions, he has dedicated the past nearly four decades to contributing his thought leadership to an assortment of national and local philanthropic initiatives.

Stated Mischler Financial Group CEO Dean Chamberlain, also an alumnus of the USMA (’85) who served two tours of duty prior to injuries sustained in the line of duty, “In addition to personal contributions on the part of our firm’s leaders, Mischler provides year-round support to a select group of military veteran and SDV-focused philanthropies and we are particularly honored and proud to continue our ongoing support of Lead The Way, one of the most impactful organizations dedicated to providing assistance to military veterans and their families.”

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The following news release has been excerpted, a link to the full news release follows below..

Treasurer Chiang to Sell $446 Million in Veterans General Obligation Bonds

10/1/2015

SACRAMENTO – California State Treasurer John Chiang is announcing the sale of up to $445,700,000 of Veterans General Obligation Bonds.

“California’s Veterans served our state and nation with honor,” Chiang said. “We owe them a debt of gratitude that this bond sale will begin repaying by way of helping our returning service members and their families realize the American dream of homeownership.”

The General Obligation Bonds are being issued to finance home and farm mortgage loans for California military Veterans under the Farm and Home Purchase Program, administered by the California Department of Veterans Affairs (CalVet).

“This is an important bond sale directly aiding California’s Veterans,” said CalVet Secretary Vito Imbasciani, M.D. “I’m proud California offers these bonds as an expression of our thanks to our Veterans and their families for their service and sacrifice.  This General Obligation Bond sale will provide CalVet with funding sufficient to offer home loans to hundreds of California’s Veterans.”

The joint senior managers include: Bank of America Merrill Lynch, which currently employs more than 10,000 Veterans, Guards and Reservists with a major initiative to increase the hiring over the next several years and Academy Securities, a “post 9/11 DVBE broker-dealer” founded by a U.S. Naval Academy at Annapolis graduate. Along with these two firms, the underwriting group will also include investment bank Mischler Financial Group, led by battle-decorated West Point grads and the financial industry’s oldest institutional brokerdealer owned and operated by service-disabled veterans, and Drexel Hamilton, LLC, a full-service institutional broker-dealer that “offers meaningful employment opportunities to disabled veterans in the financial services industry.:

“Bank of America has proudly provided financial services to the U.S. Military for 95 years.  With our long history and ongoing commitment to U.S. veterans, we were pleased to be involved in this deal, working with veteran-owned firms in a deal that will benefit former Californian service men and women,” said John Lawlor, head of Municipal Banking & Markets Group at Bank of America Merrill Lynch, himself a former U.S. Navy veteran, and graduate of the U.S Naval Academy.

“As the financial industry’s oldest and largest SDV-owned and operated firm and rooted in California, our legacy is dedicated to supporting Veteran initiatives. We are therefore honored to continue our long relationship with the State and to have been selected Co-Senior Manager for this CalVet financing,” said Dean Chamberlain, CEO of Mischler Financial Group.

For the full story, please click here

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According to a recent column by John D’Antona Jr. in sell-side industry TradersMagazine, “After years of using a separate and siloed approach to its trading high- and low-touch trading desks, it appears that the brokers are starting to meld the two desks into a single or one-touch trading desk….

The reason? Costs to maintain the two separate groups have risen amid stagnant commission spend, to be sure. But also, U.S. institutional equity investors accept coverage from a single sell-side sales trader for both e-trades and traditional block trades.

Also, since the start of the e-trading era, the buyside has insisted that the two execution channels remain separate and that specialists who monitor their algorithmic trading be distinct from the experts who manage their block orders. The primary reason for this divide: Investors were concerned about information “leakage” and saw this hard separation as key to preserving their anonymity.

Ryan Moran, Mischler Financial Group

Noted Ryan Moran, Director of US Equities Execution for agency-only, institutional boutique Mischler Financial Group, the financial industry’s oldest and largest minority brokerdealer owned and operated by service-disabled military veterans, “Institutional clients have become increasingly fluent as to the benefits of algo-centric tools, which explains why these tools have become pervasive across the trading ecosystem, but as much as all of us appreciate the efficacy of these so-called “low-touch-only” tools, in many cases those who migrated to algo-only have deprived themselves of the long-proven benefits of high-touch execution. We’ve always offered a combination, as a 3-dimensional view that only humans can provide addresses the fiduciary best execution obligations of buyside managers, many of whom oversee public pension funds.”

Added Moran, “Having a single point of contact who provides a consultative approach and is fluent in both practice areas is arguably the best practice within the context of true best execution for those engaged in block trading.”

Among the more than 300 institutions Greenwich Associates interviewed in 2015 as part of its annual study, the quality of execution consultancy saw the greatest increase in importance as a criterion for e-trading among buy-side traders.

However, a new Greenwich Associates report, “Blurred Lines: Sales Traders Drift Toward Execution Consultancy,” shows that a majority of the more than 300 U.S. institutional equity investors participating in the study are now willing to accept single coverage across high-touch and electronic trades. Only a declining 31% of the institutional investors participating in annual Greenwich Associates U.S. Equity Investors Study still prefer separate coverage.

Greenwich pointed to two main changes are driving this shift:

To continue reading this story from TradersMagazine, please click here

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Finra’s Oldest Service-Disabled Veteran owned Broker-Dealer

For Immediate Release

Newport Beach, CA & Stamford, CT, May 12, 2015–Mischler Financial Group (“MFG”), the securities industry’s oldest minority investment bank and institutional brokerage owned and operated by Service-Disabled Veterans announced that in recognition of the upcoming Memorial Day celebration, the firm has pledged a percentage of its entire May profits to The Semper Fi Fund, a nationwide organization that provides immediate financial assistance and lifetime support to post 9/11 wounded, critically ill and injured members of all branches of the U.S. Armed Forces, and their families.

Since its establishment in 2004, the The Semper Fi Fund has issued more than 91,500 grants, totaling more than $107 million in assistance to over 13,800 of our heroes and their families. The Semper Fi Fund has been awarded the highest ratings from the leading charity organization watch dog groups, including an A+ Rating from CharityWatch.com, and 4-Star rating from CharityNavigator.com, the very highest ranking only given to 4% of all philanthropic organizations by the nation’s largest and most-utilized evaluator of charities. Semper Fi Fund is also considered “a top tier organization” by The Fisher House Foundation, one of the philanthropy community’s most recognized thought-leaders.

Dean Chamberlain CEO and Principal of Mischler Financial Group stated, “Given our firm’s legacy and growing role within the financial industry, we are mindful of the opportunities afforded to us and as such, our core principles are dedicated to continuously give back, support and pay homage to our community of military veterans who have made great sacrifices on behalf of all of us.”

Added Chamberlain, “Our month of May pledge to the Semper Fi Fund is part and parcel to year-round initiatives and we are very proud to include this highly-esteemed organization to the family of veteran-centric groups that can benefit as we succeed.” Mischler Financial Group also supports Fisher House Foundation, Children of Fallen Patriots, Bob Woodruff Foundation and other leading veteran-centric organizations.

Susan Reid, Manager of Donor Relations for the Semper Fi Fund stated “On behalf of our entire organization, and as the wife of an active duty Marine who was injured in Iraq, we greatly appreciate the commitment of Mischler Financial to take care of our injured and critically ill service members and their families.” A full description of the Semper Fi Fund is available via this link

About Mischler Financial Group

Mischler Financial Group is headquartered in Newport Beach, California with regional offices in Stamford, CT, Boston, MA and Chicago, IL. MFG is a federally-certified minority broker-dealer and a Service-Disabled Veterans Business Enterprise (SDVBE) that provides capital markets services, agency-only execution within the global equities and fixed income markets and asset management for liquid and alternative investment strategies. Clients of the firm include leading institutional investment managers, Fortune corporat and municipal treasurers, public plan sponsors, endowments, and foundations. The firm’s website is located at http://www.mischlerfinancial.com

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