Directed Brokerage Program

Overview

Directed Brokerage Program

In accordance with ACERA’s Directed Brokerage Program (adopted in 2006), ACERA encourages all participating Investment Managers to utilize all the Corresponding Brokers, especially local and emerging Correspondent Brokers when such utilization does not comprise “Best Execution.”

Directed Brokerage Correspondent Brokers List

Directed Brokerage Policy

General information

Brokers participating in ACERA’s Directed Brokerage Program

List of Correspondent Brokers[1]

B. Riley & Co.

Barclays (US Algo and DMA only)
BIDS Trading

Bley Investment Group

Cabrera Capital Markets

Capital Institutional Services, Inc.

CF Global Trading

Commission Direct, Inc.

Cowen Securities (U.S.)

Heflin & Co., LLC

HSBC (U.S. and Asia/Pacific)

ICAP (U.S.)

Imperial Capital

Instinet, LLC

ITG, Inc.

Knight Securities

Kota Global Securities

LAM Securities

Liquidnet

O’Neil SecuritiesMerrill Lynch (U.S.)

Northeast Securities

Pershing, LLC

Piper Jaffray & Co.
Societe Generale

State Street Global Markets (Europe)

Weeden & Co LP

[1] Provided by the Third-Party DB Administrator – CAPIS as of  9/30/2014.

 

Commands