We are pure agents, with none of the conflicts that plague bulge-bracket firms. There is zero proprietary trading at Rosenblatt. We can access liquidity for you at every available exchange, ECN and dark pool, regardless of our execution costs. Our high touch trading team, armed with our in-depth market microstructure knowledge, employs a set of trading tools that allows for intelligent routing practices. Therefore, we can minimize information leakage and order exposure by circumventing any trading destination that we feel may increase our client’s market impact.
The upstairs trading desk at Rosenblatt Securities is widely recognized as one of the leading program and single-stock trading desks on Wall Street. As an agency-only desk, we have none of the conflicts that plague bulge-bracket firms and focus our efforts exclusively on what matters most — execution quality. Applying our in-depth knowledge of market microstructure, our high-touch trading team deploys internally developed tools, which allow us to rapidly identify and manage costly trades, and focus on intelligent order management and routing. We minimize information leakage and order exposure by circumventing any venue that we feel is adversely effecting execution. The end result is best execution and superior performance.
NYSE FLOOR OPERATIONS
Rosenblatt Securities is home to one of the largest contingents of floor brokers at the NYSE. Representing customers in the venue that has the highest market share in 95% of NYSE-listed securities (3,246 issues) is important. Having the experience, understanding and manpower to maximize floor broker advantages is essential. In this extremely competitive market environment, performance means trusting your brokers to deliver best execution. Whether it is parity, discretionary orders or flexibility around the close, you can be sure the professional staff of Rosenblatt Securities will provide you with the operational alternatives unique to floor brokers that will enhance your firm’s performance.
US LISTED OPTIONS
Our options execution desk differs from those run by traditional Interdealer Brokers, in several important ways that help us better serve customers. Just like in the equity markets, finding liquidity at the best price is our only goal. The members of our team are all former options traders. Therefore, they can fully understand client objectives and sensitivities around order handling such as price slippage and market impact. Most importantly, however, is what we will not do. We will not shop client interest just to get a commission on both sides of the trade. We will not accept payment for order flow. And we will not hold onto orders to avoid paying exchange fees. Client orders are routed solely based on liquidity and price. Because finding liquidity without impacting price has become more challenging in recent years, we also have developed relationships with leading market makers, whom we can contact to help gauge pricing fairness and potentially offer additional liquidity for our clients.
ETFs AT ROSENBLATT: EXPERT EXECUTION & ANALYSIS
Rosenblatt Securities is proud to offer a truly unique set of services for ETF investors. Combining more than three decades of agency execution experience with our deep understanding of market structure and longstanding relationships with the world’s leading ETF market makers, Rosenblatt delivers liquidity and insight to your doorstep. We have assembled an unparalleled network of liquidity providers. As your agent, we deliver their tight, large ETF markets directly to you. And to make sure you get the best prices, we refuse payments from market makers. Other ETF agents accept commissions from both sides of the trade. We believe that serving only one master allows us to achieve the best executions possible for investors. So we ask the market makers in our network to take the penny per share they pay other agents and use it instead to make tighter markets for our clients.
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As we’ve expanded our trading of ETPs (ETFs, ETNs), we’ve come across much ETP research. In an effort to share our findings and knowledge with clients, we’ve begun publication of our Monthly ETP Review.
Rosenblatt is a perfect partner for any CCA/CSA program. As an agency-only firm that prides itself on service, pure execution capabilities and robust infrastructure, we help our clients shrink their broker lists while handling commission payments with confidentiality and respect. We facilitate soft dollar and CCA/CSA programs both through in-house administration and as eligible execution brokers on a number of multi-broker platforms, including Instinet’s T*Share, ConvergEx's Westminster Research Associates and ITG’s Commission Management Services. And because we believe in reciprocity and the wisdom of allowing the buy-side to unbundle their research and trading budgets, for those clients who wish to access our market structure analysis, corporate access and special events without establishing a brokerage relationship, we accept payments from most of the bulge bracket broker-sponsored CSA programs and also work with independent research platforms.