Schwab Teams With Piper Jaffray To Expand Investor Access To New Issue Muni Bonds

Charles Schwab announced today that it has joined with Piper Jaffray, a leading investment bank and asset management firm, to provide clients access to Piper Jaffray’s new issue municipal bonds through Schwab’s BondSource® platform. Piper Jaffray is a top-ranked municipal bond underwriter in the U.S. with specialized expertise in a wide array of state and local markets.

“Our clients have asked for the ability to participate in geographically diverse new issue municipal bond offerings, and we’re thrilled that they’ll be able to access a wide variety of specialized, local deals now available through Piper Jaffray,” said Peter Crawford, Senior Vice President for Charles Schwab. “This agreement complements our existing new issue bond offering, helping give our clients the flexibility to add regional or local exposure to their bond portfolios.”

Schwab clients can view or place orders for new municipal bond issues on the BondSource platform and can visit the New Issue Calendar to view upcoming offerings and set customized alerts. In the twelve months ended on August 31, 2012, Schwab clients had access to over 930 new issue offerings, including access to nearly 600 new issue muni deals. The bonds available through Piper Jaffray complement the new issue municipal bonds already available to clients on Schwab’s BondSource platform through prior existing agreements.

The Schwab BondSource platform provides investors with broad access to new issue bonds and secondary offerings – via trading platforms, bond underwriters and dealers as well as Schwab’s own inventory. Product offerings include munis, corporates, CDs, Treasuries, agency bonds, and sub-investment grade bonds.

“We are excited to join with Charles Schwab to expand our distribution reach, providing their clients with significant new issue municipal opportunities and a broad range of secondary fixed income offerings,” said Brad Winges, Head of Fixed Income Services at Piper Jaffray.

Piper Jaffray has a leading public finance franchise and consistently ranks in the top tier of national underwriters. In 2011, Piper Jaffray ranked No. 2 nationally in number of Senior Managed Long-Term Negotiated Issues and ranked No. 7 in par value of Senior Managed Long-Term Competitive Issues. In 2011, Piper Jaffray acted as underwriter or financial advisor on 900 municipal bond transactions with an aggregate par value of $52 billion. Piper Jaffray continues its momentum in 2012 and year to date through September, it ranked No. 2 nationally in number of Senior Managed Long-Term Negotiated Issues and ranked No. 7 in par value of Senior Managed Long-Term Competitive Issues. 1

About Piper Jaffray

Piper Jaffray is a leading investment bank and asset management firm serving clients in the U.S. and internationally. Proven advisory teams combine deep product and sector expertise. Founded in 1895, the firm is headquartered in Minneapolis and has offices across the United States and in London and Zurich.

About Charles Schwab

The Charles Schwab Corporation (NYSE:SCHW) is a leading provider of financial services, with more than 300 offices and 8.7 million active brokerage accounts, 1.6 million corporate retirement plan participants, 851,000 banking accounts, and $1.9 trillion in client assets. The company was ranked ’Highest in Investor Satisfaction With Self-Directed Services’ in the 2012 US Self-Directed Investor Satisfaction Study SM from J.D Power and Associates. Through its operating subsidiaries, the company provides a full range of securities brokerage, banking, money management and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC,, and affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; compliance and trade monitoring solutions; referrals to independent fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through its Advisor Services division. Its banking subsidiary, Charles Schwab Bank (member FDIC and an Equal Housing Lender), provides trust and custody services, banking and lending services and products. Investment products offered by Charles Schwab & Co., Inc. are not insured by the FDIC, are not deposits or obligations of Charles Schwab Bank, and are subject to investment risk, including the possible loss of principal invested. More information is available at and


1 Rankings as of 11/2012, per Thomson Reuters SDC Platinum

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