What Bcp Securities does

BCP Securities is a private, partnership-owned investment bank founded in 1989 and headquartered in Greenwich, Connecticut, with additional offices in Miami, Mexico City, Rio de Janeiro, Madrid, and Singapore. The firm is exclusively focused on emerging markets fixed income, providing an integrated suite of services that combines capital markets origination, secondary market sales and trading, institutional coverage, high yield credit research, and a global convertible bond desk. Revenue is generated through underwriting and placement fees on EM debt issuance (ECP, Eurobonds, structured notes, local currency bonds), secondary trading commissions and spreads across sovereign, corporate, local currency, and convertible bonds, and professional services tied to proprietary research and investor conferences. The technology stack is conventional broker-dealer infrastructure: Bloomberg-based order management, NetExchangePro through Pershing for clearing and settlement, and internal operations systems; the firm is registered with FINRA/SIPC in the US, CNMV in Spain, and the Brazilian Central Bank.

BCP serves two primary client sets: EM issuers (corporations, banks, and sovereigns, predominantly in Latin America and Eastern Europe) seeking international capital markets access, and global investors (large asset managers, private banking groups, family offices, hedge funds) seeking EM fixed income exposure. Distribution is conducted by approximately 40 salespeople across the seven offices, supported by a research team covering over 200 EM issuers and publishing in excess of 100 pages of research monthly plus 150+ earnings notes per reporting season. BCP also convenes seven annual investor conferences across Latin America, CEEMEA, and Asia that drive issuer-investor connectivity.

The go-to-market is sales-led and relationship-driven, with no consumer-facing digital marketing; client coverage is built through decades-old personal relationships led by senior partners with prior tenures at Bear Stearns, Morgan Stanley, Deutsche Bank, Nomura, Credit Suisse, UBS-Warburg, Jefferies, and other bulge-bracket franchises. BCP clears through Pershing (BNY Mellon) and has grown its institutional client base from over 200 in 1999 to over 2,000 by 2016, alongside approximately US$20 billion of secondary trading volume. The firm employs 101-250 people and is led by founder and Chairman Randall E. Pike together with CEO Felice Bagorda and COO Stephen Cunningham.

Name

Bcp Securities

Legal name

BCP Securities Inc.

Website

https://bcpsecurities.com

Company type

Private

Founded year

1989

Operating status

Operating

Headcount range

101–250 employees

Short description

BCP Securities is a private, partnership-owned boutique investment bank exclusively focused on emerging markets fixed income. Operating since 1989 from Greenwich with six regional offices, it provides capital markets origination, secondary sales and trading, research, and a global convertible bond desk to over 2,000 institutional clients worldwide.

Ownership category

akta.pro rank

Product category

Emerging Markets Investment Banking

NAICS

Investment Banking and Securities Intermediation (523150), Investment Banking and Securities Intermediation (52315), Securities and Commodity Contracts Intermediation and Brokerage (5231)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Private Placements (144A/Reg S/MTN) (FSACABAK)

akta.pro secondary industries

Margin Financing & Stock Loan Brokerage (FSAEACAO), Commercial Paper (CP) & Money Market Issuance (FSACABAH), Money Markets & Short-Term Funding (T-Bills, CP, CDs) (FSACAEAG)

Keywords

• Emerging markets fixed income
• Investment banking services
• Debt capital markets
• Broker-dealer services
• Institutional securities trading

Headquarters

HQ city

Greenwich

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Capital Markets / Debt Issuance: BCP Securities acts as a lead or co-lead manager on fixed income issuances for EM corporations, banks, and other entities, earning underwriting and placement fees. Issuance instruments include Euro-Commercial Paper (ECP), Eurobonds, Structured/Secured Notes, and local currency bonds.
2. Secondary Market Trading: BCP generates trading revenues through active secondary market trading of emerging markets fixed income securities, including sovereign, corporate, local currency, and convertible bonds. Approximately US$20 billion of secondary trading volume was recorded in 2016.
3. Research Services: BCP publishes over 100 pages of research reports per month, covering over 200 emerging market issuers, and over 150 earnings notes per reporting season. Research supports the sales and trading function and client relationships.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

BCP Securities is a registered broker-dealer and full-service global investment bank that provides capital markets origination, institutional sales and trading, and credit research services exclusively focused on emerging markets fixed income securities. The firm raises debt capital for EM issuers (corporations, banks, sovereigns) through Eurobonds, ECP, structured notes, and local currency bonds, while providing secondary market liquidity and research coverage to over 2,000 institutional investor clients worldwide.

Product overview

BCP Securities is an independent, full-service global emerging markets investment bank operating as a partnership. The firm provides an integrated suite of investment banking services centered exclusively on emerging markets fixed income: Capital Markets Services handles debt issuance and liability optimization for issuers; Sales & Trading provides secondary market liquidity across global fixed income securities; the Institutional Division serves large global asset managers; Research delivers high-yield credit analysis and investor conferences; and the Global Convertible Bonds Desk covers convertible securities worldwide. These services work together to offer end-to-end emerging markets debt solutions.

Differentiator

Problem solved

Functional benefit

Products and services

• Capital Markets Services Fixed income issuance and liability optimization services for emerging market issuers, including sole-lead and joint-lead debt offerings, exchange offers, consent solicitations, cash tender offers, secondary market buy-backs, refinancings, and restructurings. Instruments include Euro-Commercial Paper (ECP), Eurobonds, Structured/Secured Notes, and local currency bonds. The service targets emerging market corporations, banks, and sovereign entities seeking international capital markets access.
• Sales & Trading Services Emerging markets fixed income securities sales and trading with approximately US$20 billion in secondary trading volume and 2,000+ trades per month. Covers sovereign, corporate, local currency, and convertible bonds across Latin America, CEEMEA, and Asia, serving institutional investors, private banking groups, hedge funds, and local financial institutions. Order taking and execution conducted via Bloomberg and electronic platforms.
• Institutional Division Dedicated sales and trading coverage for large global asset managers providing emerging markets fixed income execution across Latin America, CEEMEA, and Asia. Services include block trading, pricing for difficult-to-price and illiquid bonds, local currency bond trading, and research-supported primary issuance distribution. Led by senior bankers with 25+ years of EM asset management experience.
• Research Services Emerging Market High Yield credit research coverage of over 200 issuers across sovereign, corporate, and local currency bonds. Produces over 100 pages of monthly research reports plus over 150 earnings notes per reporting season, supported by seven annual investor conferences in Argentina, Brazil, Mexico, Colombia, Turkey, Nigeria, and Indonesia. Serves institutional asset managers, private banks, hedge funds, and family offices.
• Global Convertible Bonds Desk Global convertible bond sales and trading across Europe, Asia, Middle East, Africa, Latin America, Canada, and the United States. Leverages approximately 40 salespeople — including dedicated convertible bond specialists and BCP's broader fixed income sales force — distributed across BCP's seven global offices.

Named customers5 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Pershing (a BNY Mellon company)coreOthersPershing serves as BCP Securities' primary clearing firm, handling trade execution, comparison, allocation, clearance, and settlement. Pershing also maintains customer accounts, delivers funds and securities, and provides access to NetExchangePro for order management. BCP describes Pershing as critical to its operations and notes that Pershing maintains a business continuity plan and back-up facilities for disaster recovery.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Exotix Capital: Boutique broker-dealer focused on emerging and frontier market fixed income, with sales/trading and research capabilities directly comparable to BCP's specialized EM franchise.
• StoneX Group: Diversified broker-dealer with significant emerging markets fixed income sales, trading, and clearing services, overlapping with BCP's institutional EM distribution and execution capabilities.
• Seaport Group: Independent broker-dealer specializing in emerging market credit, including distressed and high yield, with a sales/trading and research model very similar to BCP's EM fixed income platform.
• B. Riley Financial: Diversified financial services firm with substantial emerging markets and distressed debt trading and investment banking capabilities, competing with BCP for institutional EM high yield and distressed mandates.

Broad incumbents

• Houlihan Lokey: Global investment bank with a dedicated emerging markets debt advisory and capital markets practice, offering overlapping EM underwriting and restructuring services from a much larger platform.
• Cantor Fitzgerald: Diversified broker-dealer and investment bank with global fixed income sales/trading and emerging markets exposure, competing with BCP for institutional and EM corporate clients.
• Marex (formerly Tullett Prebon / ED&F Man Capital Markets): Large interdealer broker and capital markets firm with significant emerging markets fixed income presence across sales, trading, and clearing — a broader-scale alternative to BCP's brokerage model.
• Mizuho Securities (EM fixed income): Global investment bank with a sizable emerging markets debt origination and trading franchise, particularly in Latin America and Asia, overlapping with BCP's cross-border EM coverage.

Emerging players

• Loop Capital Markets: Minority-owned investment bank and broker-dealer with growing emerging markets and municipal debt capabilities, competing with BCP for institutional EM bond distribution mandates.
• Roberts & Ryan Investments: Emerging broker-dealer with a developing emerging markets fixed income platform, comparable in boutique scale and target client base to BCP Securities.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/bcp_securities

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bcp Securities