Piper Jaffray and Kepler Cheuvreux, an independent European broker, have entered a strategic partnership regarding the distribution of equity research in the U.S. and Europe.

Under the agreement, Paris-based Kepler will assist Piper Jaffray in the distribution of U.S. equity research in Europe and furthermore, Piper Jaffray will assist Kepler Cheuvreux in the distribution of European equity research in the U.S.

While the initial partnership is founded on equity research distribution, it may be expanded to other business areas.

Initially, Kepler Cheuvreux will work alongside existing Piper Jaffray sales teams in Europe to distribute Piper Jaffray research to the UK and continental European clients. Kepler Cheuvreux will introduce new European clients and the Piper Jaffray sales teams will act as U.S. product specialists. Piper Jaffray will be Kepler Cheuvreux’s execution partner for U.S. equities.

Later in 2017, Piper Jaffray will work alongside existing Kepler Cheuvreux sales teams in the U.S. to distribute Kepler Cheuvreux research to U.S. based clients. Piper Jaffray will introduce new U.S. clients and the Kepler Cheuvreux sales teams will act as European product specialists. Kepler Cheuvreux will be Piper Jaffray’s execution partner for European equities.

“With Kepler Cheuvreux’s expansive client relationships, multi-local European presence and high market share, our products will receive increased visibility in Europe. We are pleased to offer similar advantages to Kepler Cheuvreux in the U.S.,” said Jeff Klinefelter, global head of equities at Piper Jaffray. “This partnership comes as a logical progression after the recently announced agreement with CIBC in the Canadian market.”

“The partnership with Piper Jaffray builds on our distribution agreement with CIMB, the Asian broker, and furthers our goal of becoming a global broker in Europe. Indeed, we are now able to offer our European clients coverage of over 2,200 stocks,” said Laurent Quirin, CEO of Kepler Cheuvreux. “We are eager to expand our client coverage in the U.S. and assist Piper Jaffray with their expansion in Europe.”