Providing agency-only trading, Pavilion Global Markets is a highly focused operation, with our sights set clearly on delivering trading excellence to institutional clients worldwide. Our trading team works with clients to define their desired coverage and be a source of information for global trading, reporting and settlement.
With trading volumes of $95 billion annually, we are known for advanced execution capabilities. PGM’s global trading desk operates 24-hours, five days a week and successfully deals in all investment types, including equities, options, fixed income and currency. To satisfy complex trading needs and achieve best execution for our clients, we use a combination of cutting-edge technology and sophisticated trading algorithms. Our expert team of traders strives for error-free execution in each and every transaction.
Pavilion Global Markets is consistently highly ranked as one of the most efficient agency-only brokers in the world according to Elkin’s McSherry’s annual survey of transaction costs. In 2020, PGM ranked No. 8 among global brokers trading global equities for arrival price, based on the top 50 brokers by U.S. dollar volume, and based on rolling four-quarter data as of September 30, 2020. See all our rankings under Awards & Recognition.
We trade internationally across more than 50 markets, and have trading and clearing relationships with securities firms spanning the planet. Besides helping us efficiently execute trades and settlements, these relationships arm us with high-caliber, up-to-the-minute market intelligence at the local, regional and global levels.
With a 50 year history in the securities business, we have gained an in-depth knowledge of global markets, and have successfully managed and executed sophisticated trading strategies for institutions of all types and sizes.
Agency-only trading allows us to remain independent and avoid the conflicts inherent in the traditional brokerage model, which combines agency and proprietary trading. This has earned us the patronage of some of the world’s most respected investment firms and institutional investors.
Anonymity and confidentiality are uppermost on our clients’ minds, so we ensure that each and every transaction is executed discreetly and all client details are handled with extreme sensitivity.
Pavilion has extensive trading experience and contacts in the U.S., Canadian and Latin American markets. The U.S. is currently our most actively traded market. Headquartered in Canada, we have an innate grasp of the particular characteristics of the Canadian marketplace; for example, finding liquidity in what is often characterized as a “block market” is key to achieving best execution. Latin America is a rapidly developing area where we have built a solid expertise and have access to localized intelligence.
These markets are highly fragmented and have a unique set of nuances, which our traders draw on to gain best price and best execution for clients. We have an extensive network of local contacts, including brokers and industry experts with whom we work closely to understand the latest market developments and how to capitalize on them.
From Hong Kong to Singapore to Bombay, Asian capital markets have quickly “grown up” in a short time frame, experiencing increased trading volumes, liquidity and breadth. Our Asian trading desk understands the region’s diverse jurisdictions, including their varying stages of market development and differing regulations, and seeks out market opportunities and trading channels for our clients.
To achieve best execution for our clients, we use the latest technology and proprietary trading software. Our software platform offers a competitive, basket-trading facility and seamlessly interfaces with clients’ order or execution systems. Orders may be routed to multiple execution management systems accessing diverse algorithm servers.
We are able to service clients through the following secure trading networks:
Pavilion Global Markets is a member of Euroclear and S.W.I.F.T., as well as a client of SSCNet, OMGEO Alert, OMGEO Oasys and OMGEO Oasys Global.
We offer trading clients the ability to use our 24-hour, agency-only trading desk to pay for a broad selection of research products and services through Commission Sharing Arrangements (CSA).
By setting up a CSA with PGM, clients can reallocate commissions to third parties – such as other brokers, independent research providers and market data providers such as Bloomberg or Reuters –for their research. The CSA provides for an execution-only commission rate to be subtracted from the client’s full-service commission rate. The balance of the commission is held on account by PGM and paid out upon instruction from the client to diverse research providers of their choice.
CSA’s are a way to unbundle execution costs from research costs, providing an efficient, inexpensive and transparent way for investment managers to pay for independent research while getting the very best execution services available.
Pavilion Global Markets is consistently highly ranked as one of the most efficient agency-only brokers in the world according to independent analysis conducted by Elkins/McSherry: