TRADING EXCELLENCE. TRANSPARENCY. TRUST.
Pioneering Trade Execution and Commission Management Since 1977
CAPIS is a compliance-driven institutional broker that focuses on high-touch global trade execution and commission management solutions. We combine an advanced technology platform with a fully transparent model, a deeply experienced team, and an unparalleled dedication to client service.
As a compliance-focused firm, CAPIS helped pioneer the commission management practice for institutional investors. Today, we’re one of the only brokers who enable investment managers to earn research credit in multiple asset classes, including global equities, fixed income, and options trades. CAPIS is also the leading provider of commission recapture solutions for sub-advised funds and plan sponsors. Taken together, these offerings have enabled us to earn the trust of some of the industry’s most prominent institutional investors – and we invite you to experience the difference for yourself.
A Legacy of Innovation
Born out of the deregulation of brokerage commissions in the mid-1970s, CAPIS was a pioneer in creating the unbundled independent research model. Founder Don Potts’ vision was to create an alternative to the traditional bundled research model. He believed that independent third-party research provided more value than bundled, proprietary research – and was ultimately better for investors.
Through this transparent model, managers and their clients knew exactly what they were paying for. As managers learned that they could receive independent research through client commissions, CAPIS’ business began to grow, and the company expanded from equities into additional asset classes.
SEC passes Section 28(e), an amendment to the Securities Exchange Act of 1934, which protects the practice of acquiring research in exchange for brokerage commissions.
SEC issues Interpretive Release #12251, clarifying the types of research and brokerage services covered by the regulations and reiterating third-party research falls within the scope of Section 28(e).
Capital Institutional Services, Inc. (CAPIS) is formed by Don Potts.
CAPIS receives first trade via Bear Stearns.
CAPIS formally opens its Equity Trading desk in Dallas.
CAPIS formally opens its Fixed Income desk in New York.
CAPIS formally launches International Equity desk in London. The firm also executes its first Transition Management event.
CAPIS officially launches its Transition Management business.
CAPIS begins trading global equities 24×6 from Dallas-based global trading desk.
CAPIS moves Fixed Income trading desk to Dallas.
SEC Interpretive Release #3454165 published – clarifying what constitutes “research and brokerage services.”
CAPIS begins trading futures as an NFA-registered Introducing Broker (IB.)
Launches CAPIS ARC, designed to address best-execution issues in the Managed Accounts space.
MiFID II goes into effect in Europe. CAPIS formally launches Outsourced/Supplemental Trading desk.
CAPIS acquires FinTech Securities, an Atlanta based broker/dealer.
CAPIS has a record-setting year for Transition Management services.
CAPIS celebrates its 45 year anniversary.
Over The Years - Different by Design
What Does a Purple Duck Have to Do with Trading and Research?
The short answer: not much. The long answer: when you have a unique, compliance-driven model like ours, you need some kind of metaphor to show just how rare that is.
The CAPIS business model has always been protected by the safe harbor provisions of Section 28(e) of the Securities Exchange Act of 1934. We provide our clients with a transparent way to supplement their internal research efforts with valuable investment research from independent providers, ultimately benefiting the underlying investors. The regulatory landscape may be in constant motion, but by working with us, you can trust in our trading excellence, transparency, and compliance.
Poised for the Future
Today, CAPIS is one of the few independent agency brokers. By concentrating our resources exclusively on trade execution and commission management, and by always encouraging our traders to seek out the best execution venues and tools, we’ve developed the skills, relationships, and technology to provide institutional investors with the best trading results we can.
Ann Sebert, CEO, continues to guide the firm in accordance with Don’s vision from over four decades ago. We’re proud to say that our legacy is secure.
Experience the Difference
Full-service, multi-asset trading, including outsourced/supplemental trading. Our exclusive focus yields exceptional customer service.
Through continual, open communication, we make sure you always know exactly who is managing your order and how it is being executed.
Our client relationships are built on an unwavering trust that comes from putting your interests first, and our offerings are compliance-driven and customizable.
Our Employees Are Our Greatest Assets
Looking for a career in institutional brokerage? At CAPIS, we recognize that our success is due to the talent and dedication of our employees. Because our business is focused on the client experience, we are always looking for extraordinarily service-oriented people.
Memberships and Affiliations
CAPIS maintains memberships and is affiliated with the following
Security Traders Association
The Alliance in Support
of Independent Research
Dallas Security Traders Association
New York Stock
National Futures Association
Securities Investor Protection Corporation
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