Tribal Capital Markets, LLC’s ("TCM") Municipal Trading Team is comprised of experienced traders committed to providing the best possible liquidity solutions for our municipal and tribal clients. This group of professionals leverage their long-standing relationships, our strong capital base and their E-commerce expertise to differentiate themselves in the market place for the benefit of our clients.
Their efforts and TCM’s willingness to risk the Firm’s capital to provide our investor base with liquidity in the marketplace ensures that we know the true execution costs for our Issuer clients. As a firm, we participate in Negotiated as well as Competitive underwritings. Tribal Capital Markets stands ready to commit $10 million of its capital to facilitate municipal bond underwritings, translating into organic underwriting capacity ranging from $1 billion for short-term municipal debt to $140 million+ for long-term municipal bonds.
Our team consists of seasoned veterans providing Issuance solutions and unique distribution in the negotiated markets as well as consistent participation in the Competitive issuance markets. Our Negotiated business is run by a 30+ year Public Veteran Malcolm Jones.
To bolster our capabilities TCM added Municipal traders, Arjan Roghanchi and Jon Yamaoka, to our team. They have joined Tribal after building a successful Primary and Secondary market Municipal bond business at their previous firm. In 2016, they participated in over $20 billion in competitive and negotiated underwritings, $15 Billion of which were Co-Managed by Arjan and Jon. These deals covered a wide spectrum, ranging from small Utility Districts to some of the biggest names in municipal issuance that include the States of California, Pennsylvania, Georgia, Massachusetts, Washington and the City of New York.
In addition to their active role in municipal debt syndication, Jon Yamaoka & Arjan Roghanchi run our secondary municipal trading team. Their daily interaction with clients and issuers ensures that they understand the true value for different credits and have feel for the pulse of the markets.
Jon Yamaoka & Arjan Roghanchi provide liquidity to customers by pricing bid-wanted requests quickly and reliably and generating trade ideas that are unique. This unique mix has allowed us to develop consistent and value added trading relationships with our clients.
Please see the full biographies of our Municipal team members in our Team section.
The map to the left reflects the States in which our firm successfully won Co-Managed Underwriting within Municipal Competitive Bidding.
As can be seen from the color differentiation, it is represented by Value and # of Deals per state.
Below are examples of our Negotiated Issues we completed below:
Below are examples of our Competitive Issues that TCM led or Co-Managed below: