Cabrera Capital Markets Municipal Sales & Trading group supports the Public Finance team's effort with active trading and distribution. The firm has strong relationships with both large and small investors and understands the need for liquidity in the municipal market.

Additionally, our team provides meaningful trading ideas. The following factors distinguish Cabrera Capital Markets:

• Strong relationships with both top tier and second tier permanent investors
• Specialization in investor relationships that are not universally covered by most of the dealer community
• Strong performance on bond orders in deals in which we participate
• Active trading desk that makes daily markets in municipal securities across all regions of the country and on blocks of bonds

Mitch Kapnick

Managing Director - Risk Manager of Municipal Securities

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Mr. Kapnick began his career in 1980 in operations at Dean Witter Reynolds in New York. He attended Baruch College C.U.N.Y in addition to graduate school at Fordham University. Mr. Kapnick spent over 12 years with Prudential Bache Securities in New York and in Chicago where he was a trader and an underwriter. In 1995, he joined 1st Chicago/ Bank One/ J.P. Morgan where he was Manager of Trading and Underwriting from 1998-2000. Mr. Kapnick joined Cabrera in 2004, and after a brief time away rejoined the firm in 2007 where he now serves as Risk Manager of Municipal Securities.

For more information about our Municipal Sales & Trading offering and capabilities or to speak with Mr. Kapnick, please contact our Chicago office: +1 312 236 8888