Equities Research

Cantor Fitzgerald Europe (CFE) provides comprehensive equity research coverage to global investment managers in the healthcare, technology, and metals and mining sectors.

A proactive, authoritative approach

CFE’s equity research team – which includes numerous Extel-ranked and Starmine-rated analysts – provides comprehensive coverage of corporate clients and relative companies across our key sectors.

Our approach is grounded in a thorough and in-depth understanding of each company and its markets. The result is a research product that is timely, informative, proactive and authoritative. This means it generates unique insights and real value for our clients. It also ensures the companies we cover remain front-of-mind with both current and potential institutional investors

US Healthcare Equities

A particular strength is our US healthcare equities team. CFE’s rated analysts have deep specialization in their respective areas. Together they span almost the entirety of the US healthcare sector and cover the full range of market capitalization. Our research capabilities are complimented by regular expert calls in both the healthcare and tech sectors. We also provide a variety of corporate access opportunities for investors.

Tracker Quants

In addition to the fundamental research provided by the equities team, CFE Tracker Quants provides a detailed forecasting service for stock indices. It predicts which companies will be included stock indices, and what their weighting in the indices will be. The team looks at global and international emerging markets benchmarks, and at all core domestic indices in Europe and North America. We cover both the MSCI and FTSE Russell International index families.

Accuracy and insight

The Tracker Quants team has a combined experience of over 30 years in this space. Our commercially driven approach ensures a high degree of accuracy, timeliness and understanding of the drivers of constituent changes and the expected price impact. As a result, we can provide insight for buy-side traders on timing decisions and to portfolio managers in support of longer-term stock-picking.

Our core index review forecasting is also supplemented with flow analysis related to mergers & acquisitions, primary & secondary stock issuance and corporate spin offs.

Macro content

We supply our clients with actionable macro ideas through publications including ‘Bi-Weekly Presentation’, ‘Mid Day Market Thoughts’, ‘Theta Thursday’ and ‘Flash Trade Ideas’.

Tracker Quants

Industry Leading Global & Domestic Benchmark Forecasting

CFE Tracker Quants provides a detailed forecasting service for constituent changes to global benchmarks (MSCI & FTSE Russell International) at a developed and emerging market level and all core domestic indices in Europe & North America.

Our commercially driven approach ensures a high degree of accuracy, timeliness and understanding of the drivers of constituent changes and the expected price impact.

The team has a combined experience of over 30 years as specialists in this space. Our core index review forecasting is supplemented with flow analysis related to mergers & acquisitions, primary & secondary stock issuance and corporate spin offs.

Equity Sales

CFE’s equity sales team works with over 400 institutional clients across the UK, the US and continental Europe. We have extensive reach into:

• Mutual funds
• Mainstream national and regional pension funds
• Sovereign wealth funds
• Hedge funds
• Specialist tax-efficient funds
• Family offices and other alternative investors
• Equity Capital Markets distribution

Experienced, trusted and dedicated

CFE’s experienced equities team is made up of both generalist and industry-specific sales professionals, allowing us to offer a wide distribution capability combined with in-depth, sector-based expertise.

On the institutional side, we have a reputation for providing a timely and trusted service with ranked salespeople, whilst acting as an essential bridge to corporate clients.

Proven placing power

CFE’s world-class trading platform and distribution capability means we can keep our clients informed with the latest and most relevant market intelligence. Crucially, it also supports our sales team’s proven placing power.

Sales & Trading

Cantor Fitzgerald Europe’s (CFE) equity desk provides best execution at competitive prices by tapping into the liquidity of our institutional and hedge fund relationships. Our approach is based on intelligent order prioritization, seamless risk pricing and our ability to execute in any time zone.

We offer solutions in the following products:

• Global program trading
• Block trading
• Stoxx 600 equities
• Privates
• ADRs/GDRs
• US electronic and high-touch execution
• Equity capital markets distribution
• Event-driven strategies

Equity derivatives

CFE’s equity derivatives team is ranked #1 in the wholesale market by clients and competitors. Our single stock options team can source liquidity in all major European names and provides coverage of index futures and options.

We traded $40bn of equity derivatives in 2021. We are also responsible for almost one-quarter of brokered listed single stock volatility derivatives.

Full-Service Investment Banking

Cantor Fitzgerald’s Investment Banking Division is a leading provider of advisory and capital markets services to corporate and financial clients across the globe.

With a presence in New York, San Francisco, Toronto, London, Hong Kong and Dubai, we leverage our industry expertise and regional insight to serve the evolving needs of our clients.

Targeted sector expertise

Cantor Fitzgerald is a market leader in the power, energy, infrastructure and healthcare sectors.

Our unique approach involves combining advisory and capital market expertise within our industry teams. This allows us to deliver tailored, product-agnostic advice to our industry clients and helps ensure they get the best possible results.

Cantor’s proven track record of expert advice is even more valued given the current backdrop of fast-paced, disruptive change. The transition from a carbon-intensive economy to a more sustainable world is one of the biggest structural changes to ever face the energy sector. Our team of senior bankers are experts in the industry and well placed to advise our clients on navigating this new environment.

Cantor’s sector coverage includes:

• • Power
    • Renewable energy
    • Thermal energy
    • Energy storage
    • Grid stabilisation and support
  • Energy
    • Midstream
    • Downstream
    • Energy retail
  • Infrastructure
    • Digital infrastructure e.g. fibre networks, data centers
    • Waste treatment and recycling
    • Infrastructure services
    • Transport e.g. airports, roads, ports, carparks
    • Electricity and gas networks
  • Healthcare
    • Pharmaceuticals
    • Life sciences
    • Medical devices

Independent, client-focused advice

CFE’s highly experienced team provides strategic advice to help our corporate clients achieve their objectives. We have a long track record of executing landmark and first-of-a-time complex transactions across a range of industries and geographies. Our approach is best described as independent, innovative and effective. CFE’s advice is always unbiased and we make sure our interests remain fully aligned with our clients’ at all times.

We advise our clients across a range of areas:

• • • Mergers & acquisitions (M&A)
      • Includes public and private takeovers and mergers, leveraged and management buyouts, majority or minority stake acquisitions or divestments, joint ventures, carve outs, distressed M&A, strategic advice
    • Equity financing solutions
      • Includes IPOs and associated fund raisings, secondary fund raisings, private company placements
    • Debt financing solutions
      • Includes advisory, structuring and placement capabilities on structured finance, project finance, investment grade debt
    • Restructuring

Global reach, local expertise

Cantor’s senior banking team is located across the globe, which means we can execute complex, cross-border transactions for our clients. Our deals are always led and managed across all stages by our senior bankers, who all have decades of experience transacting in the industry as well as long-standing! relationships with all the key global players.

Prime Services

Cantor Prime Services (CPS) offers clients a global, multi-asset prime brokerage platform. CPS leverages the clearing, financing and execution capabilities of Cantor Fitzgerald and focuses on high quality middle market asset managers.

Our approach is based on innovative technology coupled with a unique, consultative, high-touch client experience in an industry where client focus is greatly diluted.

Award-winning, full-service offering

CPS’ award-winning platform offers a comprehensive suite of offerings. These include:

Equity and fixed income prime brokerage

Our platform accommodates a broad array of trading instruments and strategies, including:

• Full cash and synthetic prime offerings
• US and international equities, options, futures, ETFs and ETNs
• US and non-US sovereigns, agencies, residential and commercial mortgage-backed securities, asset-backed securities, investment and non-investment grade corporates, convertible bonds and emerging market debt
• Financial, energy and commodity futures

Comprehensive financing solutions

We work with our clients to design the most efficient financing, liquidity and margin solutions:

Our financing options include:

• Traditional Regulation T margin financing
• Repo financing
• Securities lending
• Portfolio margin
• Synthetic (swap) financing and stock lending

Capital introduction

CPS is consistently recognized as an industry leader in capital introduction. We provide a tailored approach specifically focusing on client strategies. This includes:

• Tailor-made capital-raising strategies
• Deal structuring
• Market intelligence and research
• Customized marketing plans
• High-quality manager events

Outsourced trading

CPS’ experienced specialist outsourced trading team can unlock efficiencies for clients. We offer outsourced trading:

• Across global markets
• In all major asset classes
• With a range of execution options

Market-leading expertise, unrivalled service

Cantor Prime Services is led by a deeply experienced, hands-on senior management team with a proven track record of building significant prime brokerage business at bulge bracket firms.

The cornerstone of everything we do at Cantor is based around our dynamic relationship-driven culture, which is why CPS has one of the highest client service ratings in the entire industry.

• Team approach — With a dedicated team working on each account, we ensure continuity of coverage and seamless transitions.
• Shared goals — We invest time and resources to fully understand the objectives and goals of our clients.
• Close collaboration – CPS’ client service representatives act as a virtual extension of our clients’ back office.

Innovative technology solutions

CPS’ state-of-the-art, web-based platform offers improved reporting, trade capture and execution for our clients:

• Real-time reporting – The CPS platform offers clients real-time access to their daily and monthly reports and acts as an efficient trade capture tool, streamlining trade processing.
• Daily updates – Clients can access a full suite of real-time and end-of-day reports via our custom web portal or file transfer protocol.
• Open source – By providing an open architecture for equity direct market access, our clients have the flexibility to select multiple trading venues and software options, with CPS providing seamless and accurate processing
• Clearing services ­– CPS provides an industry-leading platform for US Treasury Fixed Income Clearing.
• Tech support – The CPS technology team provides valuable insight and support for clients operating their own technology platforms and can also help them to evaluate third-party providers
• Superior execution – Our highly skilled equity and fixed income trading and research teams provide superior service and product expertise

Contact Prime Services

For additional information on Cantor Prime Services and how our platform can support your business, please call us at: +44 207 894 8741 or email: primesales@cantor.com

Fixed Income

Cantor Fitzgerald Europe (CFE) provides a comprehensive sales, trading and research service for fixed income, through a global network of more than 250 professionals across six countries.

By combining the talent and experience of our team with a state-of-the-art electronic trading platform, we can provide comprehensive liquidity, fast and efficient execution, and unparalleled expertise. The fixed income division utilizes advanced analytical modelling tools to produce superior results.

We offer research, market-making and distribution for the following fixed income instruments:

• Corporate bonds – investment-grade and high-yield
• Leveraged finance, including loan trading, agency services and trade claims.
• Preferred stock and hybrid securities
• Commercial paper and money market instruments

Expert interest rate strategies

Our mix of deep market knowledge, exceptional idea generation and flawless execution makes it possible for us to give clients a number of innovative trading capabilities for interest rates. These include solutions for:

• The yield curve
• Relative value
• Basis risk

We also offer highly nuanced, state-of-the-art technical analysis.

Credit Securities

Innovative solutions in fixed income

Cantor’s Credit desk is a market maker in an array of fixed income instruments.

Our veteran team of traders and sales professionals has a deep understanding of fixed income products and has operated in all market conditions. As a result, we can provide innovative solutions and strategies, whatever the trading environment.

Committed to the customer

As always, our focus is on building the strongest client/advisor relationships. We work closely with our customers to help them generate trading ideas and make informed investment decisions.

In support of this, our dedicated research team provides detailed analysis and insight on the relative value of specific issues and the general direction of credit markets.

We trade the following fixed income instruments:

• US Investment grade corporate bonds
• Yankee bonds
• US & European High yield bonds
• US & European Distressed bonds
• US & European Leveraged loans
• US & European Private/re-organized equities
• Loan agency capabilities
• Municipal bonds
• Preferred stock
• Hybrid securities
• Commercial paper
• Money market instruments

For more information on our credit products, please contact: fixedincome@cantor.com

Structured Products

Cantor Fitzgerald’s Structured Products Group (SPG) develops and structures mortgage and asset backed related instruments and products. The SPG team creates structured products across multiple asset classes and will work with you to develop customized solutions based on your particular needs and objectives within your risk/reward framework.

Structured product transactions

• Residential and commercial mortgage instruments
• CDO/CLOs (cash & synthetic)
• Contingent performance securities
• Structured notes and other repackaged products
• Leveraged leases
• Mortgage residual, NIM and servicing strip transactions
• Consumer and trade receivables
• Project financings

For more information on our Structured Products, please contact: fixedincome@cantor.com

Mortgage Backed & Asset Backed

A leader in mortgage trading

Cantor’s Mortgage Trading desk combines extensive knowledge of the fixed income markets, with a deep understanding of the collateral that can be used to underpin mortgage securities trading.

We trade a multitude of mortgage products in the secondary markets, but also specialize in the creation of securities in the new issue space.

Our desk transacts across the entire credit spectrum: from higher-rated agency-backed bonds to subordinated tranches drawn off private label shelves.

Cutting-edge technology, personal service

Most importantly, we believe in the power of partnership. Irrespective of the product, or the market, our focus is always on working closely with our clients to help realize their investment goals. In support of this, we utilize advanced analytical modelling tools and extensive loan performance resources to produce superior results.

We cover the following mortgage products:

• Agency pass-throughs (full range of TBAs and specified pools)
• Agency and non-agency CMOs
• ARMs
• Mortgage derivatives (IO/PO/inverse/inverse IO)
• Commercial MBS (Agency CMBS and Non-agency CMBS)
• DUS paper
• Consumer ABS (Autos & Credit Card)
• Home equity ABS
• Whole loans
• CDO/CLO

For more information on our mortgage-backed and asset-backed securities, please go to our education page or contact: fixedincome@cantor.com

US Treasury & Interest Rate Products

Leading the way in fixed income instruments

Cantor Fitzgerald’s Interest Rate desk is a market maker for all US Treasury products.

Our coverage includes:

• Treasury bills
• Notes
• Bonds
• Strips
• Floating-rate notes
• Inflation protection securities (TIPS)

We also offer in-depth, economic and market analysis, providing the information our clients need to stay ahead of the market.

Registered primary dealer

As one of only 22 primary dealers in the US, we have a close and valued relationship with the Federal Reserve and the US Treasury.

We are able to bid directly in all Treasury bill, note, bond and TIPS auctions. In addition, we can participate in all Fed Operations and provide flow and market commentaries.

By maintaining a dedicated page, CFFI, and multi-dealer-platform on Bloomberg, our FIT (Fixed Income Trading) clients can also receive fast and accurate electronic trade execution for transactions in US Treasurys.

Expert interest rate strategies

Meanwhile, our combination of deep market knowledge, exceptional idea generation and flawless execution means we can provide clients with a number of innovative interest rate solutions.

These include:

• Yield curve trading
• Relative value trading
• Basis trading
• Technical analysis

For more information on US Treasury & Interest rate products, please contact: fixedincome@cantor.com

Repos

A leading intermediary for short-term instruments

Cantor Fitzgerald offers repurchase agreements to institutional investors. As a leading intermediary in the repo market, and one of only 22 primary dealers in the US, Cantor’s focus is on providing exceptional service to the middle market.

Cantor offers the following services:

• Due bill
• Tri-party repo
• Whole loan repo
• Equity repo
• Sell/buy repo
• Reverse repo
• Securities lending

Cantor’s repo offering is supported by its advanced technology platform. HelixRepo is an integrated trading and reporting engine for a wide range of bilateral and tri-party repurchase agreements.

For more information on repos, please contact: fixedincome@cantor.com

ESG

Contact

For further information, please contact:

Full Service Investment Banking
Hari Chandra, Senior Managing Director / Global Co-Head of Power, Energy & Infrastructure
t: +44 20 7894 8689 | hari.chandra@cantor.com

Prime Services
Sean Capstick, Senior Managing Director / Head of European Prime
t: +44 20 7894 8741 | sean.capstick@cantor.co.uk

Equities
Andrew Shortland, European Head of Equities
t: +44 207 894 8801 | Andrew.Shortland@cantor.com

Fixed Income
Jim Franz, European Head of High-Yield and Leveraged Loans
t: +44 207 894 8861 | jfranz@cantor.co.uk

Chief Executive Officer
Sean Capstick
sean.capstick@cantor.co.uk

Chief Operating Officer
Ian Salters
ian.salters@cantor.com

Chief Financial Officer
Russell Haley
rhaley@cantor.com

Announcements

CFE presentation 2022

Regulatory Documents

Terms of business updated for GDPR (25th May 2018)

• Standard Terms of Business
• Assisted Reporting Terms

Terms of business pre 3rd January 2018

• Standard Terms of Business pre 3rd January 2018
• MiFID II Addendum to accompany Standard Terms of Business pre 03rd January 2018

Electronic Access and Trading Terms

• Electronic Access and Trading Terms

Policies

• Best Execution Policy
• Conflicts of Interest Policy

Other key documents

• Download the CFS LLP 2020 Pillar 3 Document
• Cantor Fitzgerald Europe (CFE) Legal & Regulatory Disclosures