Transparency

Our success as a broker-dealer is based on our belief in the principle of transparency. In fact, transparency is a foundation of everything we do in Institutional Capital Markets.

What does it mean to be transparent? It means being open and honest at all times. It means consistently promoting full disclosure. It means providing access to information, ideas and results. We believe that transparency is necessary for investors to fully understand their investment risk and discover fair pricing.

That’s why we offer our clients a completely transparent business relationship. We only recommend products and strategies that are objective and from markets that meet the requirements of transparency.

Transparency in Action

First Trust offers a different experience for our clients than a traditional broker-dealer. In order to deliver on our pledge of transparency, we:

• Are source agnostic - we do not push our inventory

• Fully disclose our mark-ups

• Provide trade price analysis (Pre- and Post-Trade Price Reports)

• Operate in markets and securities that are transparent

• Seek to understand our clients' goals and objectives

• Make recommendations that fit our clients’ clearly-defined guidelines