The Portal Alliance offers an integrated platform that allows market participants to trade unregistered equity securities in a standard and consistent manner compliant with regulatory and contractual obligations.
Securities within the PORTAL Alliance will be traded in the over-the-counter market among qualified institurional buyers. Contact one of the firms on the right side of the page by clicking on their respective logo.
The financial institutions listed on this page own and operate this OTC market via the PORTAL Alliance LLC.
Most privately placed securities are eligible for secondary trading via the
PORTAL Alliance
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Issuer information for securities traded via the Portal Alliance will be provided from the firms currently involved in trading the security.
Generally, information will be made available provided:
- Entity requesting information is a Qualified Institutional Buyer (QIB)
- The Issuer does not require permissioned access to information
Provided you are eligible to receive this information
- The firm trading the security will have the proper process in place to provide this issuer information
- Firm market points of contact are available by clicking the the respective logos on the right side of this page
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In order to see market quotes and transact in the 144A securities traded via the Portal Alliance, market participants must:
- Establish eligibility as a Qualified Institutional Buyer
- Gain access to latest available market information
- Please reach out to specified firms that are currently making markets in a given Portal Alliance eligible 144A security to get more information on the trading process
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- Contact information for those firms can be gathered by clicking on the specific firm where you have a relationship on the right side of the page
- After you confirm eligibility, you will be able to receive market quotes in Portal Alliance eligible securities
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What is Rule 144A? - A Way to Access U.S. Capital and Institutional Investors
- U.S. Securities and Exchange Commission (SEC) Rule 144A allows for the immediate resale of private placement securities among qualified institutional buyers (institutions that manage at least $100M in securities and are referred to as QIBs) without requiring public registration.
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About the PORTAL Alliance
The PORTAL Alliance is an open, industry-wide platform to facilitate over the counter trading of 144A equity securities. The PORTAL Alliance is intended to enhance the liquidity and transparency of 144A equity securities by creating a source for indicative quotes, trade reporting and issuer information for 144A equity securities. The founding members of The PORTAL Alliance include BofA Merrill Lynch, Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, J.P. Morgan, Morgan Stanley, The NASDAQ OMX Group, Inc., UBS and Wells Fargo Securities.
The goal of the PORTAL Alliance is to provide a better, more efficient 144A market for investors and issuers. To achieve this goal, the PORTAL Alliance members agreed to form an open, industry-standard platform with standard procedures for trading 144A equity securities - bringing uniformity to the capital formation process and secondary trading for the 144A private equity market.
The PORTAL Alliance members, using their resources and expertise, have developed this platform to facilitate the trading and settlement of unregistered securities in the 144A equity market. The PORTAL Alliance includes access to trade negotiation, investor qualification, information access, shareholder registry management and transaction settlement and historical market data.
If you have questions about the PORTAL Alliance please reach out to one of the firms by clicking their respective logo on the right side of this page.
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Please click a logo on right to ...
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If you have questions regarding the PORTAL Alliance please contact one of the member firms by clicking on their respective logo on the right side of this page
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Thank you for your interest in being a market participant. To become eligible to interact in this market, please reach out to a Portal Alliance member firm by clicking on their respective logo on the right side of this page
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To access current or future Portal Alliance securities traded by Citi, please reach out to their Portal Alliance helpdesk at (212) 723-7350 or email questions to portalalliancedesk@citi.com
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To access current or future Portal Alliance securities traded by Goldman Sachs, please email steven.kelly@gs.com
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To access current or future Portal Alliance securities traded by JP Morgan, please email ray.craig@jpmorgan.com
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To access current or future Portal Alliance securities traded by UBS, please reach out to their Portal Alliance helpdesk at (203) 719-1065 or email questions to stephen.roney@ubs.com
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