Bulge bracket

(redirected from Bulge-bracket)

Bulge bracket

A tier of firms in an underwriting syndicate that have the highest participation level. See: Mezzanine bracket.

Bulge-Bracket Firm

In bracketing, an underwriting firm responsible for placing a certain amount of a new issue with investors. If a bulge bracket firm is the single largest underwriter, it may be responsible for assigning parts of the issuer to other underwriters. Brackets are listed in order of size on an advertisement detailing each new issue, known as the tombstone.
References in periodicals archive ?
S&P Global Market Intelligences research offering includes 1,700 multi-asset class research providers, ranging from global bulge-bracket banks to smaller regional firms and independents, along with our own industry and quantamental research, unique news and point-in-time financial databases.
Bulge-bracket brokerage firm Merrill Lynch has agreed to pay out [pounds sterling]160m in a racial discrimination case.
Last year some of the leading bulge-bracket firms combined their equities sales/voice broking and equities electronic trading divisions.
Also, are the apparent conflicts of a bulge-bracket firm simply too difficult for a fiduciary to ignore?
CIOs, CTOs and heads of technology tell TABB that in addition to meeting increased latency reduction requirements, they are being asked to expand network capacity, make more efficient use of data center space - nearly half are now consolidating or migrating data centers - and, because the average bulge-bracket broker spends nearly $30 million annually on excess compute power, increase utilisation of their share of the 93,000 sell-side servers running their US equities businesses.
Other bulge-bracket banks such as Morgan Stanley and Lehman Brothers have also boosted their teams in the region in recent months.
This measure is aimed at getting a foothold for a competitive securities company to be a bulge-bracket firm in line with the enforcement of the Financial Investment Services and Capital Market Act.
It's the way fiduciaries, institutions, bulge-bracket firms (the most elite investment banks) and wealthy individuals that are determined to stay wealthy invest.
5 billion in new bond issues in his first 18 months in business, the entrepreneur found himself struggling to survive in a market that forced even many bulge-bracket firms out of the bond business.
Jennifer brings the know-how from many other industry media properties, plus her own experience as a bulge-bracket trader.
Bulge-bracket US private equity group KKR is set to buy a majority stake in the 15-year-old advisory, asset and wealth management company in a unique deal that aims to create a full-service "new generation" financial service platform leveraging Avendus' robust, existing tech-centric niche.
Summary paragraph: A new business model has been established to let banks and brokers compete on a par with bulge-bracket firms in the fragmented equity execution space - outsourcing could prove the solution, says Alessandro Bressan, director, equities electronic trading at Deutsche Bank.