Convertible securities combine characteristics of stocks and bonds in a single security. And our professionals combine experience and expertise to serve this complex and geographically diverse market. Dedicated personnel in New York, London, Tokyo, and Zurich offer expertise in the sales, trading and analysis of U.S. domestic and international convertible bonds, convertible preferred shares, closed-end funds, warrants and structured products. The scale of Jefferies' operations help us provide superior client service by minimizing transaction costs and maximizing liquidity. Globally, Jefferies trades in more than 750 different issues and maintains active relationships with more than 450 institutional and corporate clients, with a focus on providing unparalleled client service and attention.
Jefferies convertible department places particular emphasis on smaller, less traded securities, providing liquidity for issues for which an active secondary market seldom exists. Acting as an intermediary between investors and structuring/issuing entities, Jefferies provides objective advice about the price and structure of equity-linked products, originates and distributes these instruments, and stands ready to make a market in, and assist in the maintenance of liquidity during the products' life. In conjunction with our convertible origination effort, this group has become active in the placement of new convertible issues and equity-linked financings.
Jefferies' convertible sales and trading professionals also work closely with our analysts to disseminate research on the convertible securities universe to our institutional investors.
