US brokerage firm Capital Institutional Services (CAPIS) says JPMorgan Worldwide Securities has chosen the firm as its global commission recapture partner. Under the agreement, JPMorgan WSS will refer its custody clients in the UK, Europe, Asia and the US to CAPIS to reclaim a portion of the commission paid directly back to the pension or investment fund, with the aim of lowering expenses and increasing investment returns.
“This is a tremendous opportunity and we are very pleased that JP Morgan Worldwide Securities Services will refer its clients to CAPIS,” says Kristi Wetherington, CAPIS President and CEO. “Together we can help clients lower their transaction costs, improve cash flow and conserve their assets.”
Paul Wilson, Senior Vice President and Product Executive at JPMorgan WSS adds that “as the industry continues its move towards unbundling execution and research costs, commission recapture remains a highly effective and transparent cost management tool. We selected CAPIS to help our clients achieve their goal of heightened commission transparency.”
Capital Institutional Services, Inc. (CAPIS) specializes in agency trading and commission management for asset managers and plan sponsors. It executes all trades on an agency basis, eliminating any conflict of interest.
CAPIS is a member of the New York Stock Exchange, American Stock Exchange, Pacific Stock Exchange, the National Association of Securities Dealers, and SIPC.