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Our capital market activities are divided into Trading and Investments.
Trading and Principal Investments
Our Trading and Investments business facilitates customer transactions and takes proprietary positions in and trading of, fixed income and equity products, commodities,and other derivatives.
The activities of our Trading and Investments segment are divided into three categories: Fixed Income, Commodities, Equities and Principal Investments.
Fixed Income, and Commodities ( FIC )
FIC structures and trades in products, and commodities, and a wide variety of derivative transactions, and engages in proprietary trading and arbitrage activities.
Equities
Equities trades equities and equity-related products, structures and enters into equity derivative transactions, and engages in proprietary trading. As an agent we facilitate customer transactions, often by committing capital, to provide liquidity to clients with large blocks of stock or options.
Principal Investments
Principal Investments primarily represents net revenues from our other investment activities. We make principal investments directly and through the funds we raise and manage.
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our firm 
