LPS Capital

Name

LPS Capital

Legal name

LPS Capital LLC

Website

https://lpspllc.com

Company type

Private

Founded year

2013

Operating status

Operating

Ownership category

akta.pro rank

Product category

Institutional Brokerage

NAICS

Investment Banking and Securities Intermediation (52315), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282)

akta.pro primary industry

Institutional Capital Introduction (LP/Family Office/Endowment Matching) (FSAEALAI)

akta.pro secondary industries

Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL), Corporate Finance & Capital Advisory (BPAHADAB)

Keywords

• Institutional brokerage services
• Fixed income securities
• Distressed debt trading
• Equity execution services
• Commodity futures brokerage

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Transaction/Commission Fees: LPS Capital charges commission or percentage-based fees for successful transactions. Fees typically range from 1% to 5% of the total dollar amount of securities bought or sold. In most cases, fees are charged to sellers, though buyers may also be charged brokerage fees in some instances. No fees are charged unless there is a successful closed transaction.
2. Municipal Bond Broker's Broker Compensation: For municipal bonds, LPS Capital is compensated on the basis of a percentage of the spread or other economically similar basis. Commission schedule varies by par amount from $0.75 to $20 per transaction, negotiable based on maturity.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

LPS Capital provides research, sales and execution services across investment-grade bonds, convertible bonds, high-yield bonds, preferred stock, equities, post-bankruptcy reorganized equities, mortgages, bank loans, and distressed and special-situation securities. It acts as a full-service boutique broker-dealer for institutional clients and routes orders to exchanges, alternative trading systems, broker-dealers and other market centers.

Product overview

LPS Partners operates as a holding company through multiple subsidiaries offering complementary financial services. LPS Capital (member FINRA/SIPC/NFA) is the core full-service boutique broker-dealer providing research, sales and execution across debt securities, equities, and special situations. This core is augmented by LPS Futures for commodities trading, Lone Peak Capital for illiquid asset monetization, Saco Capital for outsourced trading, and LPSFX LLC for OTC FX Options. Together they enable execution across an issuer's entire financial capital structure.

Differentiator

Problem solved

Functional benefit

Products and services

• LPS Capital
• LPS Futures Registered NFA Independent Introducing Broker specializing in energy swaps, options, spreads, futures and structured products, supported by fundamental and technical analysis and execution on CME, ICE, ICE Europe and NASDAQ.
• Lone Peak Capital Joint venture between LPS Partners and Cedar Glade Capital providing an alternative execution platform for illiquid assets, including bankruptcy claims, insurance recoveries, class-action settlements and legal judgments.
• Saco Capital Boutique outsourced trading service for financial managers, institutions and family offices, offering trading capabilities across asset classes, commission management and oversight of sell-side relationships.
• LPSFX LLC Registered NFA Independent Introducing Broker offering OTC FX options through STREAM pricing and click-to-trade CLOB and dark-pool execution via GUI or FIX API, with voice brokerage in FX forwards and non-deliverable forwards.

Named customers9 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Partnerships

Three partnerships are on record, tiered core and minor.

• ICBC Financial ServicescoreStrategic or Co-development PartnerICBC Financial Services is LPS Capital's clearing firm, providing real-time back up capability of important records in a geographically separate area. They have the ability to restore operations and complete existing transactions and accept new transactions and payments. ICBC is also a member of SIPC.
• Cedar Glade CapitalcoreStrategic or Co-development PartnerCedar Glade Capital partners with LPS Partners in Lone Peak Capital, a joint venture focused on illiquid asset trading including bankruptcy claims, insurance recoveries, class action settlements and legal judgements.
• Saco CapitalminorStrategic or Co-development PartnerSaco Capital is a strategic partner that extends LPS Capital's offerings with a fixed income and commodity platform. Led by Patrick McDonald with 19 years of multi-asset buy-side experience including Head of Global Trading at Eton Park Capital Management. Saco Capital helps clients facilitate trading, commission management, and oversight of all sell side relationships.

Scale indicators2 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• TP ICAP: TP ICAP is one of the largest global interdealer brokers following its merger with ICAP, with deep fixed income, FX, and derivatives franchises. It is a broader incumbent competing with LPS Capital across many of the same institutional product lines, with substantially greater scale and global footprint.
• Cantor Fitzgerald: Cantor Fitzgerald operates a diversified institutional brokerage and investment banking franchise with strong fixed income, equities, and capital markets capabilities. It overlaps with LPS Capital across institutional fixed income and special situation securities trading.
• StoneX Group: StoneX (formerly INTL FCStone) is a diversified financial services firm offering execution in fixed income, commodities, FX, equities, and securities lending. While substantially larger and broader than LPS Capital, it competes in overlapping institutional execution product categories across multiple asset classes.

Direct peers

• Compagnie Financière Tradition: Tradition is a Swiss-listed interdealer broker operating across fixed income, FX, derivatives, and equity products globally. It is closely comparable to LPS Capital as a multi-asset boutique broker-dealer focused on intermediation rather than principal trading, with similar institutional client orientation.
• BGC Group: BGC Group (formerly BGC Partners) is a leading global interdealer broker with extensive fixed income, distressed debt, and commodities operations. It is the most direct comparator to LPS Capital, and the place where founder John Lugano previously headed distressed trading, providing direct pedigree and competitive overlap in core product lines.
• Loop Capital: Loop Capital is a minority-owned, full-service investment bank and broker-dealer serving institutional clients across fixed income, equities, and municipal securities. Its boutique institutional model and focus on relationship-driven intermediation are closely aligned with LPS Capital's approach.
• Wallach Brothers: Wallach Brothers is a boutique broker-dealer specializing in fixed income, particularly government securities and institutional fixed income execution. Its boutique institutional model and product focus are highly comparable to LPS Capital's fixed income franchise.
• R.J. O'Brien: R.J. O'Brien is a Chicago-based boutique futures broker and clearing firm offering execution across multiple asset classes including energy and commodities. Its multi-asset boutique model is directly comparable to LPS Capital's broker-dealer and LPS Futures subsidiary structure.
• Marex: Marex is a multi-asset broker specializing in energy, agricultural, and financial product execution. Its combination of commodities and fixed income/equities execution is highly comparable to LPS Capital's integrated broker-dealer and LPS Futures subsidiary offering.

Others

• ICBC Financial Services: ICBC Financial Services is LPS Capital's clearing partner and provides operational infrastructure for execution and trade processing. While not a direct competitor, the relationship establishes adjacency in the institutional execution value chain and represents a strategic infrastructure dependency for the firm.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about LPS Capital