Corporate Debt

All Corporate Debt issues, both bonds and equities, including IPO’s, follow-ons, repurchases, tenders, $25 preferred, and others, are recorded in this program. Profit and loss, commissions and document management allows this department to have a single repository to store this information on a deal by deal basis. Since each issue has an entered cusip, offering date, and selling concession, all principal trades reported by the clearing agent are electronically associated with issues and commission amounts are computed to be employed for salesperson commission statements. Other amounts to be distributed to employees include finder fees, referrals and research, all entered and recorded and paid a check receipt. Once a check is received, the final P&L versus accrued figures are compared based on underwriting and management fees, reserve expenses and retention amounts.