Quoin Capital specializes in trading common stocks, preferred stocks as well as fixed income securities for institutional clients. Our experienced traders, with an average of 20 years in the securities business, provide a constant flow of information before, during and after executing the customer’s order while ensuring that the trade will have as small a market impact as possible. We have access to many trading algorithms so that we may access liquidity wherever it may be. Our algorithms also allow us to utilize various strategies including but not limited to VWAP*, TWAP*, MOO*, MOC*, percentage of volume and access to the largest number of DARK POOLS. We also have access to many independent floor brokers whom our traders have cultivated over the years. This allows us to gain additional market intelligence from the floor. This is especially useful when trading in issues which are thinly traded.
Fixed Income Trading
When trading in fixed income securities we check all electronic markets, as well as the markets of other broker dealers. After determining what we believe to be an appropriate valuation we make contact with institutional customers we know have been involved in the particular security we are trading.
Our equity group has previously had a prominent role in the IPOs of Polo Ralph Lauren, Avis Rental Car, UPS as an underwriter and Prudential Financial as a Jr. Co-Manager. We were able to bring, in addition to our large money manager client base, mid and small money managers who may have been overlooked. The issuers appreciated the wider distribution we were able to provide for their offerings.
* VWAP: Volume Weighted Average Price
A measure of the price at which the majority of a given day’s trading in a given security took place. Calculated by taking the weighted average of the prices of each trade. The method is used by institutional traders, who often break a given trade into multiple transactions.
* TWAP: Time Weighted Average Price
Average price of shares over a specific period of time. Trading strategy used often by high-volume traders which attempts to buy or sell a share when it reaches the Time Weighted Average Price or better.
* MOO: Market on Open
A buy or sell order in which the broker is to execute the order at the market’s opening. It does not guarantee the trade will be executed at the listed opening price, but the trade will be executed within a range of prices, or not at all.
* MOC: Market on Close
A buy or sell order which is to be executed as a market order as close as possible to the end of the day.
* IPO: Initial Public Offering
The first sale of stock by a company to the public. Companies offering an IPO are sometimes new, young companies, or sometimes companies which have been around for many years but are finally deciding to go public. IPOs are often risky investments, but often have the potential for significant gains. IPOs are often used as a way for a young company to gain necessary market capital.
*** Definitions by: Investor Words