Juan Pablo Livinalli Arcas

Founded in 2009, Avila Capital Markets, Inc. is a broker/dealer located in New York City. The firm focuses on providing institutional and high net-worth clients with capital markets execution, global clearance and custody services. They specialize in complete access to emerging market sovereign and corporate debt, as well as high yield and high grade instruments. Avila Capital Markets provides transaction execution through a combination of professional institutional sales, dealer sales and trading coverage. Their trades are cleared through and settled by Penson Financial Services, Inc. The firm is a member of FINRA and the SIPC.

Refco Securities LLC provides administrative and financial transaction clearing services. The private company is based in New York, NY and has subsidiaries in the United States.