Featuring: Jonestrading

摘要

JonesTrading is an agency-only broker-dealer based in Westlake Village, Calif. With more than 80 traders in 11 offices around the country, JonesTrading services 1,600 institutional and hedge fund accounts. The broker-dealer focuses on large block trades for its buy-side customers and recently moved into distressed equity. The firm's Westlake Village trading floor is home to approximately 36 sales traders and eight agency traders. According to 2007 data, JonesTrading saw an average order size of 275,000 shares with average execution size of 49,000 shares; 38 percent of those shares were crossed internally. JonesTrading recently introduced Jones-E, an electronic portal for clients that acts as a discovery-of-interest tool for direct communication with the firm. Jones-E orders are managed and executed by traders dedicated to the application.