Full text of Cowen Financial Products LLC's X-17A-5 filed 2022-08-23 (period 2022-06-30). Broker-dealer annual report from SEC EDGAR — readable, searchable, and available as markdown for AI agents.
{0}------------------------------------------------ # **Cowen Financial Products LLC** **Statement of Financial Condition As of June 30, 2022 (Unaudited)** *(SEC I.D. No. 026-00059)* {1}------------------------------------------------ | Page(s) | |---------| | | | 1 | | 2-13 | | | {2}------------------------------------------------ | Assets | | |-------------------------------------------------------------------------------|-----------------| | Cash | \lt;br>359,797 | | Securities owned, at fair value (\$1,240,064 were pledged to various parties) | 1,418,871 | | Receivable on derivative contracts, at fair value | 409,095 | | Securities borrowed | 734,367 | | Receivable from brokers and dealers | 7,412 | | Receivable from customers | 115,281 | | Interest and dividends receivable | 3,241 | | Total assets | \lt;br>3,048,064 | | | | | Liabilities and Member's Equity | | | Liabilities | | | Securities sold, not yet purchased, at fair value | \lt;br>760,109 | | Payable on derivative contracts, at fair value | 12,982 | | Securities loaned | 1,126,465 | | Payable to brokers and dealers | 44,051 | | Payable to customers | 1,025,508 | | Interest and dividends payable | 7,670 | | Due to related parties | 518 | | Accounts payable, accrued expenses and other liabilities | 508 | | Total liabilities | 2,977,811 | | | | | Member's equity | 70,253 | | Total liabilities and member's equity | \lt;br>3,048,064 | The accompanying notes are an integral part of this statement of financial condition. {3}------------------------------------------------ ### **1. Organization and Business** Cowen Financial Products LLC (the "Company"), a Delaware single member limited liability company, is a conditionally registered security-based swap dealer with the Securities and Exchange Commission (the "SEC") under the Securities Exchange Act of 1934 ("SEA"). The Company was incorporated on March 29, 2018, and conditionally registered with the SEC to become a swap dealer effective November 1, 2021. The Company is a wholly-owned subsidiary of RCG LV Pearl, LLC, which is an indirectly wholly-owned subsidiary of Cowen Inc. (the "Ultimate Parent"). The Company enters into swap derivative contracts with its customers on a principal basis. A swap derivative contract involves buying or selling the return on an underlying equity security or basket of equity securities. The Company offsets market risk by purchasing or selling short the underlying equity securities of its swap positions. The Company serves i…Read the full text as markdown