Meeting Notes

Corporate Access and Institutional Targeting

Summary of the Presentation at the Cincinnati NIRI Chapter Meeting on October 9, 2013

The Cincinnati Tri-State Chapter of NIRI held its second meeting of the season on October 9, 2013. NASDAQ OMX Group sponsored the event, including an outstanding dinner at Morton’s Steakhouse. Chris Dearborn, Managing Director, Market Intelligence Desk, The NASDAQ OMX Group, made a presentation and led a discussion about corporate access and investor outreach. The discussion related to Chris’ presentation entitled “Corporate Access & Institutional Targeting”.

Below are several key points from the discussion.

  • Corporate Access Defined
    • Sell Side Research Defined – getting them to put you in touch with managements buying philosophy
      • Sell Side can act as a 3rd party vet to ask questions for holders that may not want to ask you directly
    • Rule Changes – Reg FD has taken away the first call look
      • From the mid-90s to early 2000s, ¾ of the sell side analysts have moved to the buy side
    • Corporate Access – making sure you get in front of the long only holders
  • Types of Marketing
    • Use of Management Time – larger settings to get in front of many interested parties
    • Analyst Days – Great way to “pay back” the sell side
    • Conference Calls
      • How often do you get feedback?
      • Quality of the feedback
  • Corporate Access Participants
    • Commission Structure – 5 years from now, corporate access and sell side will balance out
    • Coverage – Partner with 3 to 5 or spread the meetings around?
      • You have to do both in order to be successful.

The presentation from the meeting is available here.