Avior Capital Markets US, LLC

Avior Capital Markets US, LLC provides research distribution and trade facilitation services to U.S. institutional clients — including investment advisers, broker-dealers, hedge funds and registered funds — by acting as a chaperone under SEC Rule 15a-6 to affiliated foreign broker-dealers. The firm is dually registered as a FINRA broker-dealer and as a New York state-registered investment adviser to support distribution of hard‑dollar research and agency execution of foreign securities.

Avior does not provide portfolio management for individual clients, does not custody client assets, and does not charge percentage‑of‑AUM or performance‑based fees; instead it is compensated through hard‑dollar research fees and a share of commission fees generated under its chaperone agreements. The firm does not prepare or endorse the research it distributes, does not exercise investment discretion for client accounts, and does not conduct periodic account reviews typical of advisory firms that manage client portfolios.

Compared with peers, Avior’s model is characterized by its broker‑dealer activity and formal affiliations with foreign affiliates (including UK and South African entities) that produce and distribute research under chaperone agreements, a structure that led it to register as an adviser after the SEC’s no‑action relief expired. The brochure also discloses a cost‑plus arrangement in which foreign affiliates reimburse the firm’s expenses plus a markup, and the firm serves only institutional clients rather than retail or individual (including high‑net‑worth) investors.