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FORTY-EIGHT
SYMBOLS.

The full market the house works, spooled onto four reels: Reel P prints principal and own-account dealing, Reel A customized advisory and fund management, Reel F trust and custody, and Reel X the exchange and transfer services that keep paper moving.

REEL P

Principal & Own Account

9 symbols · P-01 – P-09 Dealing for the house's own book — own risk, own P&L. Principal capacity is disclosed in writing before any transaction.
P-01Individuals investing in financial contracts on own accountOwn-account financial contract positionsPrincipal
P-02Investment clubsPooled own-account club investingPrincipal
P-03Mineral royalties or leases dealingActing as principal in royalty and lease dealingsRoyalties
P-04Mortgage dealers, buying and sellingMortgage paper bought and sold as principalMortgage
P-05Oil royalty dealingOil royalties dealt as principal to investorsRoyalties
P-06Securities speculators for own accountOwn-account speculative positionsPrincipal
P-07Tax liens dealingTax liens dealt as principal to investorsLiens
P-08Venture capital companiesOwn-capital venture positionsVenture
P-09Viatical settlement companiesViatical settlement interestsViatical
REEL A

Advisory & Management

16 symbols · A-10 – A-25 Customized, fee-paid advice — plus the mandates where the house manages the money itself.
A-10Certified financial planners, customized, fees paid by clientCustomized CFP planning, client-paidPlanning
A-11Financial investment advice services, customizedClient-paid customized investment adviceAdvice
A-12Financial planning services, customized, fees paid by clientCustomized financial planningPlanning
A-13Investment advice consulting services, customizedCustomized advice consultingAdvice
A-14Investment advice counseling services, customizedCustomized advice counselingAdvice
A-15Investment advisory services, customized, fees paid by clientCustomized advisory mandatesAdvisory
A-16Investment managementDiscretionary investment managementMgmt
A-17Managing investment fundsInvestment fund managementFunds
A-18Managing mutual fundsMutual fund managementFunds
A-19Managing personal investment trustsPersonal investment trust managementTrusts
A-20Managing trustsTrust asset managementTrusts
A-21Mutual fund managingMutual fund portfolio managementFunds
A-22Pension fund managingPension fund managementPension
A-23Personal investments trusts, managingManaging personal investment trustsTrusts
A-24Portfolio fund managingPortfolio fund managementPortfolio
A-25Private equity fund managingPrivate equity fund managementPE
REEL F

Trust & Custody

8 symbols · F-26 – F-33 The vault side — estates, trust administration, non-real-estate escrow and fiduciary agencies, and securities custody.
F-26Administrators of private estatesPrivate estate administrationEstates
F-27Bank trust officesTrust office functionsTrust
F-28Escrow agencies (except real estate)Non-RE escrow agencyEscrow
F-29Fiduciary agencies (except real estate)Non-RE fiduciary agencyFiduciary
F-30Personal investments trust administrationPersonal investment trust administrationTrust
F-31Securities custodiansSafekeeping of securitiesCustody
F-32Trust administration, personal investmentInvestment trust administrationTrust
F-33Trust companies, nondepositoryNondepository trust company functionsTrust
REEL X

Exchange & Transfer

15 symbols · X-34 – X-48 The market machinery — clearing, brokering, protecting holders, quoting and transferring the paper.
X-34Business start-up fundraising via crowdfunding platformCrowdfunded capital raisingCrowdfund
X-35Clearinghouses, commodity exchange or securities exchangeExchange clearing servicesClearing
X-36Deposit brokersDeposit brokerageBroker
X-37Exchange clearinghouses, commodities or securitiesCommodity and securities clearingClearing
X-38Gas lease brokers' officesGas lease brokerageLease
X-39Oil lease brokers' officesOil lease brokerageLease
X-40Protective committees, security holdersHolder protective committeesProtect
X-41Quotation services, securitiesSecurities quotation feedsQuotes
X-42Quotation services, stockStock quotation servicesQuotes
X-43Securities holders' protective servicesProtecting security holders' interestsProtect
X-44Securities transfer agenciesSecurities transfer agencyTransfer
X-45Stock quotation servicesStock quote publicationQuotes
X-46Stock transfer agenciesStock transfer agencyTransfer
X-47Transfer agencies, securitiesSecurities transfer agency scopeTransfer
X-48Virtual currency trading exchange clearinghousesVirtual currency clearingClearing

YOUR QUESTION
OFF THE TAPE?

Forty-eight symbols mark the established book, not the edge of a conversation. Describe the mandate or the deal and the reply states plainly where it prints.

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