When Jonathan Auerbach and David Grayson founded agency brokerage Auerbach Grayson & Co. in 1993, e-mail was not a fixture in the business world, the Internet had not yet evolved into a sophisticated source of global, real-time information and direct-market access (DMA) was still years away. Today, the New York-based firm has broker partners on the ground in 104 different countries and executes hundreds of millions of dollars a day in trades for its institutional clients.
Offering bottom-up research, DMA and an office that is staffed around the clock, Auerbach Grayson & Co.'s trading desk fields calls for trades on the usual markets--London, Frankfurt, Paris, Tokyo--as well as more exotic destinations such as Accra, Ghana; Dhaka, Bangladesh; and Gzira, Malta, to name a few. For every exchange the firm trades on, it has a partner brokerage on the scene that can give the "local point of view rather than the global point of view," says managing director Grayson. "Relationships matter," he adds. "Having even one person on the ground that we know and trust is what we seek out."
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