About Rafferty Capital MarketsCohane Rafferty Securities, Inc., co-founded by Larry Rafferty in 1987, was established to package and trade a wide variety of assets between the nation’s mortgage and banking institutions. Over a period of fifteen years, CRSI became the recognized leader in providing investment banking services to the mortgage industry. Over the course of those fifteen years, Rafferty Capital Markets, LLC primarily facilitated trading for Cohane Rafferty. CRSI was sold to Lehman Brothers in 2001. Rafferty Capital Markets is now the trading and brokerage arm of Rafferty Holdings, LLC. In 2002, the decision was made to enter the capital markets brokerage business. Rafferty Capital quickly established a strong position in the voice-brokering of U.S. Treasury and Agency securities. Two years later, Rafferty Capital acquired J.J. Kenny Drake from S&P and immediately became a factor in the municipal bond market. Rafferty Capital has since entered into five other markets and additionally offers the services of Prime Brokerage and Mutual Fund Distribution. Our holding company, Rafferty Holdings, LLC, has also grown over the years: In early 2009, Rafferty Holdings acquired Keane Securities, a boutique investment banking firm which provides market making capabilities in OTC and Nasdaq-listed stocks. In 1997, Rafferty Asset Management was established to serve as the advisor to Direxion Funds, a mutual fund family. In November of 2008, Direxion launched the industry’s first triple levered (3x ) ETFs. Direxion Shares’ line up consists of 13 Bull and 13 Bear ETFs, which seek to provide 3x the daily return of the index in which they track. As of January 2010, Direxion assets are in excess of $6 billion. |