Municipal Securities

Each year, tens of thousands of local, regional and state government entities issue bonds to help finance a wide variety of projects – from infrastructure improvements to new development. Once issued, these bonds can be sold and traded as securities. For clients looking to participate in this complex marketplace, our Municipal Securities business offers execution and advisory services in the following:

Investment Banking

We help cities, counties and states raise capital for their infrastructure needs in areas such as schools, highways, water and sewer plants, airports or other infrastructure needs. We specialize in Community Development Financing, which involves levying special assessments on property to provide upfront bond financing to build specific infrastructure. We primarily serve real estate developers who are able to fund current infrastructure development from future cash flow from targeted projects.

Trading

We carry municipal bond inventory and provide bids for clients who are principally interested in selling various types municipal bonds. We display our inventory to institutional clients directly and through electronic platforms, and bid directly for positions being liquidated by clients. We commit capital to our trades and offer pricing in municipal securities in all 50 states and U.S. territories.

Underwriting

Through this process, we determine whether potential issuers are creditworthy and qualify for underwriting by INTL FCStone Financial, including whether a credit rating is required. We then create an interest rate scale on market rates to set an appropriate price and interest rate for buyer and seller.

By opening this market via INTL FCStone Financial’s expertise and capital, our Municipal Securities team provides issuers with opportunity to finance their growth, and investors with opportunities to participate in that growth.