Bank SP trading desks take up balance sheet and RWA

Bank SP trading desks require an expensive infrastructure to support their activities

Bank SP trading revenue is volatile and unpredictable

Continued bank regulation will reduce SP trading capital and profitability

The ability to offer a full-service platform when competing for client mandates

An opportunity to limit overall market risk and lower overhead costs

A vehicle to optimize the department’s capital usage and generate a higher PTI for the bank

Entegra’s metric of success is increasing new issue deal count

Entegra’s success in one sector creates the opportunity to offer a service in others