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About Structured Finance

Conservative, personalized strategies.

Since 1946 FirstSouthwest has been a trusted leader in public finance, incorporating structured financial products where applicable into the asset and liability strategies of public sector entities nationwide.

Philosophy and Services
The philosophy of our professionals is fundamentally conservative, highly personalized and always reflective of the responsibilities associated with public transactions.

Each of our professionals has vast and diverse experience in creating comprehensive financing and hedging strategies applicable to balance sheet management that include identifying hedging alternatives and analyzing risk factors.

Although our personalized advisory services center on structuring and asset/liability management, we also provide execution services in derivative markets and cash (securities) markets.

Our accounting and backoffice valuation systems meet Type II SAS 70 requirements and comply with GASB and FASB accounting standards. Each system provides surveillance functions relating to credit and market value thresholds.

Our personalized services include:

Advisory

Structuring
Asset Liability Management

Execution

Swap
Options
Securities, Flex Repo or Guaranteed
Investment Contracts

Surveillance

GASB 41, 45, 53
FASB 133, 157
Payment Credit

Benefits
Beyond our technical expertise and experience, other benefits we can offer our clients include:

  • We provide help with board and staff education.
  • We offer access to analytically sound counsel based on the needs of each client.
  • Our firm’s direct and ongoing participation in the capital markets gives our clients the realtime local and national market sensitivity to make better decisions.
  • Our in-house expertise in financial advisory, arbitrage rebate and continuing disclosure is readily available to all our clients.

To learn more about our capabilities, please contact us today.

 

Market Insights

 Swap Curve Comparison 3.15.10

Disclosure: The information contained in the following material ( the "Information") may include various forms of performance analysis, security characteristics and securities pricing estimates for the securities addressed. The data underlying the Information has been obtained from sources that First Southwest Company believes to be reliable, but First Southwest Company does not guarantee the accuracy of the underlying data or computations based thereon. As with all models, results may vary significantly depending upon the value of the inputs given. Models used in any analysis may be proprietary making the results difficult for any third party to reproduce. Contact your investment representative for detailed explanations of any modeling techniques employed in the Information.

Upcoming Events

FirstSouthwest professionals attend numerous industry conferences, exhibitions and trade shows around the country each year. Our schedule of upcoming events appears below. For details, please contact Katie Honea, FirstSouthwest Corporate Event Coordinator, at 214.953.4081 or katie.honea@firstsw.com.

  • August 22-25, 2010

    NAST Annual Conference

    Williamsburg, VA

     

    Join FirstSouthwest at the National Association of State Treasurers (NAST) Annual Conference at Colonial Williamsburg Lodge in Williamsburg, Virginia.

    Find more information at the NAST website.

     

  • September 1-3, 2010

    TAC Annual Conference and Expo

    Austin, TX

     

    Join FirstSouthwest at the 2010 Texas Association of Counties (TAC) Annual Conference and Expo in Austin, Texas at the Renaissance Austin Hotel.

    To learn more, visit the conference page on the TAC website.

     

  • September 12-15, 2010

    IBTTA Annual Meeting and Exhibition

    San Diego, CA

     

    Join FirstSouthwest at the International Bridge, Tunnel and Turnpike Association (IBTTA) 78th Annual Meeting and Exhibition in San Diego, California.

    To learn more or register, visit the IBTTA website.

     

  • September 13-17, 2010

    CTAT Annual Conference

    Abilene, TX

     

    Join FirstSouthwest at the 62nd Annual County Treasurers Association of Texas (CTAT) Conference at the MCM Elegante in Abilene, Texas.

    For more information, contact Lesa Cross White at 325.674.1231 or visit the CTAT website.

     

  • September 24-26, 2010

    TASB/TASA Annual Convention

    Houston, TX

     

    Visit the FirstSouthwest booth at the Texas Association of School Boards/Texas Association of School Administrators (TASB/TASA) Annual Convention in Houston.  Learn more at www.tasa.tasb.org.

     
  • October 6-8, 2010

    Bond Buyer's California Public Finance Conference

    San Francisco, CA

     

    Join FirstSouthwest at the Bond Buyer's 20th annual California Public Finance Conference at the Hyatt Regency in San Francisco, California.

    Click here to visit the Bond Buyer's website for more information.

  • October 12-15, 2010

    TACA Fall Conference

    Lubbock, TX

     

    Visit the TexSTAR and LOGIC booth at the 65th Annual Texas Association of County Auditors (TACA) Fall Conference. The event will be held at the Overton Hotel and Conference Center in Lubbock, Texas. 

    To learn more, visit the TACA conference website.

     

  • October 17-20, 2010

    ICMA Annual Conference

    San Jose, CA

     

    Visit our booth at the International City/County Management Association (ICMA) Annual Conference in San Jose, California.  Learn more at http://icma.org.

  • October 26-28, 2010

    Strata Conference

    Chicago, IL

     

    Join FirstSouthwest at the Strata Conference in Chicago, Illinois.

  • October 27-29, 2010

    TML Annual Conference and Exhibition

    Corpus Christi, TX

     

    Visit the FirstSouthwest and TexSTAR/LOGIC booths at the Texas Municipal League (TML) Annual Conference and Exhibition in Corpus Christi, Texas.  Learn more at www.tml.org.

  • November 14-16, 2010

    HFMA Region 9 Annual Conference

    New Orleans LA

     

    Join FirstSouthwest at the 8th Annual Healthcare Financial Management Association (HFMA) Region 9 Conference.  To learn more, visit the HFMA Region 9 website.

  • November 17-10, 2010

    GFOAT Fall Conference

    Galveston, TX

     

    Join us at the Government Finance Officers Association of Texas (GFOAT) Fall Conference in Galveston, Texas.  Learn more at www.gfoat.org.

  • December 7-9, 2010

    GTOT Winter Seminar

    San Antonio, TX

     

    Join FirstSouthwest at the Government Treasurers' Organization of Texas (GTOT) Winter Seminar at the Westin Riverwalk Hotel in San Antonio, Texas.

    For more information, visit the GTOT website.

     

  • December 13-15, 2010

    IBTTA Transportation Finance Summit

    Washington, DC

     

    Join FirstSouthwest at the International Bridge, Tunnel and Turnpike Association (IBTTA) Transportation Finance Summit in Washington, D.C.

    Learn more at the IBTTA website.

     

Recent Transactions

DateAmountTrade DescriptionIssueSector
11/30/2009$11,425,876.64Flexible Repurchase AgreementQSC Mnt Tax Nts (Tax Credit Notes) 2009Independent School District
11/5/2009$34,740,000.00SwapConsulting AccountOther - Misc.
10/27/2009$4,096,117.96(Client) Sell SecuritiesSFM Rev Rfdg Bds S97Housing Finance Corporation
10/27/2009$5,965,643.25(Client) Sell SecuritiesSFM Rev Bds 12,679M S98B1; 5,000M Txbl S98B2Housing Finance Corporation
10/27/2009$7,146,435.63(Client) Sell SecuritiesSFM Rev Bds GNMA & FNMA Mtg Back Sec Prog S98Housing Finance Corporation
10/21/2009$10,000,000.00(Client) Purchase SecuritiesTxbl Commercial Paper 07A & BOther - Misc.
10/19/2009$50,000,000.00SwapTxbl Commercial Paper 07A & BOther - Misc.
10/15/2009$0.00SwapSwap Advisor - ConsultingOther - Misc.
10/15/2009$0.00SwapRestructuring Series 2002 & 2005Other - Misc.
10/6/2009$40,325,000.00SwapRev Rfdg 2009 (MED Ctr Ed Bldg Corp)Higher Education
10/6/2009$42,160,000.00SwapRev Rfdg 2009 (MED Ctr Ed Bldg Corp)Higher Education

Personalized Services

Structuring
Using financial products such as swaps, caps, collars and other derivative products, FirstSouthwest has helped clients meet their financing goals by implementing funding and investment strategies that may take advantage of rewards not currently available in the traditional capital markets.

Asset/Liability Management
The firm’s philosophy of maintaining a conservative approach is designed to maximize benefits and provide competitive pricing which affords clients a solid foundation from which to assess risks on both assets and liabilities taking into consideration investment strategies and future debt issuances.

Execution
To assist clients considering the use of financial products, FirstSouthwest has developed a comprehensive menu of services. The depth of the firm’s resources allows us to customize services for clients rather than offering a one-size-fits-all approach.

Surveillance
FirstSouthwest can provide the independent validation of market values, payments, collateral requirements and counterparty ratings that many auditors demand in today’s financial markets. FirstSouthwest is an industry leader in developing approved calculation methodologies for derivatives among the auditing community. Our surveillance systems have received SAS 70 Type II certification by an independent auditor.

Experienced Team

FirstSouthwest's experienced Structured Finance professionals are proficient at developing personalized strategies to meet each client’s needs. To learn more about how we can assist you, please contact any member of our team.

 

    • Michael Marz
    • michael.marz@firstsw.com
    • Vice Chairman
    • 214.953.4020
    • Read Bio
    • Dave Brayshaw
    • dave.brayshaw@firstsw.com
    • Senior Vice President
    • 214.953.4020
    • Read Bio
    • Richard Konkel
    • richard.konkel@firstsw.com
    • Vice President
    • 214.953.4020
    • Read Bio

Upcoming Events

Case Studies

  • Orlando-Orange County Expressway Authority, Florida

  • Alaska Housing Finance Corporation

  • Dallas Convention Center Hotel

  • Northside Independent School District, San Antonio, Texas

  • Dallas County Hospital District

  • City of Kingsville, Texas

EmployeeSearch

  • Dave Brayshaw
  • Senior Vice President
  • Structured Finance
  • 214.953.4020
  • Read Bio
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