Marco Polo’s Chaperone Services Provide Non-US Brokers Access to US Buy-sides
Finansbank, a Turkish financial stalwart, partners with Marco Polo Securities to Establish U.S. presence and tap new revenue streams
New York, NY – November 25, 2015 – Finansbank, whose comprehensive banking services have cemented its reputation as the de facto “Financier of Turkey,” has entered into a partnership with U.S. based Marco Polo Securities (“MPS”), a wholly owned subsidiary of Marco Polo New World.
Finansbank initially engaged with Marco Polo Securities for its chaperoning services, which would let the former have access to U.S. institutional markets and be the Securities and Exchange Commission (“SEC”) compliant, while remaining exempt from SEC registration and the lengthy process and legal costs that such registration entails. While federal regulations do not allow non-U.S. brokers to conduct securities transactions with institutional investors, rule 15 a-6 of the SEC Act of 1934 provides an exemption for companies who conduct such business via a chaperoning relationship-like the one that Finansbank established with Marco Polo Securities.
Marco Polo Securities’ collaboration with Finansbank has enabled MPS — a pioneer in frontier and emerging markets since 2000 –to secure a stronger presence in Turkey. “This connection between our company and Finansbank gives our network of U.S. broker’s entrée to Turkey, and its increasingly sophisticated and important banking and capital markets,” notes Paul Karrlsson-Willis, President of Marco Polo Securities. MPS’ broker network includes relationships with more than 100 major U.S. financial institutions and high-frequency trading firms.
“We chose Marco Polo Securities not only based on its ability to facilitate our chaperoning requirements, but also to help them to grow in other market segments and create a more robust global brand and presence beyond Turkey’s borders,” said Egemen Erden, Executive Vice President of Institutional Sales and Trading at Finans [Invest] Yatırım Menkul Değerler A.Ş., Turkey.
Finansbank was impressed by both the flexibility of MPS’ business model and the collective brand trust offered by its key employees. Two years into their relationship, Marco Polo Securities has provided the Turkish financial services giant with another profit center within the U.S. Thanks to the successful partnership between the two firms, Finansbank grew its presence within the U.S., and their trading volumes have increased exponentially.
About Marco Polo New World
Marco Polo New World ( www.MarcoPoloNewworld.com ), through its wholly owned subsidiary Marco Polo Securities, provides global brokers, high-frequency trading firms, and other financial institutions with a host of services, enabling clients to trade multi-asset classes throughout the world via a single network connection. Currently providing connections to over 80 countries across the globe, this unique trading platform provides clients with access to the largest international network of broker dealers and asset managers in the world. Clients benefit from neutrality and flexibility, backed by an experienced and knowledgeable service team at work around the clock to ensure the highest level of service and support at any time, and in any market.
Finansbank ( www.Finansonline.com) has flourished over its 28-year history, moving from its commercial banking core to offering myriad services and products-such as credit cards and international banking. As a parent company, Finansbank has also experienced significant growth through its subsidiaries. Its Correspondent Banking and Structured Finance groups have continued to augment and improve the bank’s position in foreign-trade operations, funding, international payments and treasury operations. In addition, Finansbank has strategic relationships with 20 correspondent international banks.
Marketing Associate | Marco Polo New World
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