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NAICS Code· 523150

NAICS 523150: Investment Banking and Securities Intermediation

This industry comprises establishments primarily engaged in underwriting, originating, and/or maintaining markets for issues of securities, or acting as agents (i.e., brokers) between buyers and sellers in buying or selling securities on a commission or transaction fee basis. Investment bankers act as principals (i.e., investors who buy or sell on their own account) in firm commitment transactions or act as agents in best effort and standby commitments. This industry also includes establishments acting as principals in buying or selling securities generally on a spread basis, such as securities dealers or stock option dealers. Illustrative Examples: Bond dealing (i.e., acting as a principal in dealing securities to investors) Mutual fund agencies (i.e., brokerages) Securities brokerages Securities underwriting Stock brokerages Stock options dealing Cross-References.Show more

NAICS 523150 – Investment Banking and Securities Intermediation encompasses financial advisory services related to capital raising, mergers and acquisitions, asset restructuring, and securities underwriting for public and private entities. In the government contracting context, this NAICS code applies to firms providing strategic financial counsel to federal agencies on debt issuance, public-private partnerships, infrastructure financing, and portfolio optimization.

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NAICS 523150 FAQ

Frequently Asked Questions

NAICS code 523150 covers Investment Banking and Securities Intermediation. This industry comprises establishments primarily engaged in underwriting, originating, and/or maintaining markets for issues of securities, or acting as agents (i.e., brokers) between buyers and sellers in buying or selling securities on a commission or transaction fee basis. Investment bankers act as principals (i.e., investors who buy or sell on their own account) in firm commitment transactions or act as agents in best effort and standby commitments. This industry also includes establishments acting as principals in buying or selling securities generally on a spread basis, such as securities dealers or stock option dealers. Illustrative Examples: Bond dealing (i.e., acting as a principal in dealing securities to investors) Mutual fund agencies (i.e., brokerages) Securities brokerages Securities underwriting Stock brokerages Stock options dealing Cross-References.

Recently Posted in Investment Banking and Securities Intermediation

NAICS: 523150
New
SLED
RM-204558
Solicitation # 49458
The New Jersey Turnpike Authority is seeking proposals for investment banking services under solicitation number 49458, specifically focusing on the establishment of Senior Manager and Co-Manager pools. This solicitation, identified as RM-204558, is open for responses until October 29, 2026, at 6:00 PM. The contract is categorized as a solicitation for a state and local government entity with the place of performance located within New Jersey. Interested parties can find further details and submission guidelines through the provided Bid Express portal.
New Jersey Turnpike Authority

POSTED

5 days ago

DEADLINE

in 16 days
View Details
NAICS: 523150
New
SLED
Salt Lake City Corporation Department of Airports Bond Underwriting Services
Solicitation # SLCAIR26018
The Salt Lake City Corporation Department of Airports is seeking proposals from qualified firms to establish a pool of bond underwriters for the Salt Lake City International Airport. This solicitation, identified as SLCAIR26018, aims to secure professional financial services to manage bond underwriting requirements for the airport's infrastructure and operational needs. Interested parties must submit their responses by the deadline of October 30, 2026, at 8:00 PM. The opportunity was officially posted on October 8, 2026, and is managed through the state of Utah's procurement system.
Utah

POSTED

6 days ago

DEADLINE

in 17 days
View Details
NAICS: 523150
SLED
RFSQ - SENIOR AND CO-MANAGER UNDERWRITER SERVICES
Solicitation # 13326
The County of San Diego is soliciting Statements of Qualifications (SOQs) to establish a five-year standing list of qualified firms to provide Senior and Co-Manager underwriter services on an as-needed basis. The County intends to award up to eight contracts in total, with a maximum of four for each position. The scope of work involves supporting the planning, structuring, marketing, pricing, sale, purchase, and closing of various County financings, including Commercial Paper programs and other directed instruments. Selected contractors must provide comprehensive marketing plans that identify key challenges, opportunities, and pricing objectives to ensure the lowest possible cost of borrowing, while also identifying rating agency concerns and the implications of issuing Green, Social, or Sustainable bonds. To avoid disqualification, offerors must meet mandatory minimum requirements, including attesting to SEC net capital requirements, holding all necessary federal and state licenses, and maintaining full compliance with municipal-securities regulations. Firms must demonstrate California-specific experience with required municipal financing instruments and provide evidence of relevant work completed within the last five years. Submissions must be uploaded via the BuyNet portal by November 16, 2026, and must include required forms such as the Offeror’s Cover Page (PC600) and Representations and Certifications (PC601). Final terms, conditions, and insurance requirements will be addressed in a subsequent second-step procurement phase.
San Diego County

POSTED

12 days ago

DEADLINE

in about 1 month
View Details
NAICS: 523150
SLED
Financial Advisor Services
Solicitation # 26-028
The Douglas County Board of Commissioners has issued Solicitation No. 26-028, a Request for Proposal seeking qualified and experienced firms to provide Financial Advisor Services. The selected advisor or advisors will serve two primary functions: assisting the County in reviewing and developing financial policies, programs, and sustainability plans—including maintenance and replacement funds—and providing expertise in structuring and issuing bonds or private placement debt to fund significant capital needs. Key responsibilities include performing debt capacity and affordability analyses, providing credit rating services, and attending Board or committee meetings as requested. The advisor must maintain strict independence from underwriters, lenders, and investment providers while performing services with professional skill and care. Proposals must be submitted electronically via BidNet no later than October 28, 2026, at 2:00 PM EST. The County will utilize a two-stage evaluation process, beginning with a written proposal evaluation worth 100 points, followed by optional interviews or presentations. Award decisions will be based on the most advantageous and best value proposal. Bidders are required to submit several mandatory certifications, including drug-free workplace, non-discrimination, E-Verify, and debarment forms, and must disclose any potential conflicts of interest. Pricing should be submitted using the provided fee proposal form, which includes monthly rates and transaction fees for specific financing services. The winning respondent must also comply with various legal and safety standards, including OSHA regulations and requirements for payment and performance bonds for subcontractors with contracts exceeding $50,000.
Douglas County Board of Commissioners

POSTED

15 days ago

DEADLINE

in 15 days
View Details
NAICS: 523150
SLED
Underwriting Services
Solicitation # RFP-26-27942
The Metropolitan Washington Airports Authority is soliciting proposals under RFP-26-27942 for underwriting services to support the issuance of Airport System Revenue Bonds and Dulles Toll Road Revenue Bonds. The objective is to establish three distinct underwriting pools consisting of primary, secondary, and emerging underwriters. These pools will serve as the basis for selecting syndicates to execute and support future bond financings for both the Aviation Enterprise and the Dulles Corridor Enterprise. As part of this solicitation, the Authority intends to select three specific syndicates to manage planned bond transactions. Interested parties must submit their responses by the deadline of October 26, 2026. This procurement falls under NAICS code 523150 and is managed by the agency based in Virginia.
Metropolitan Washington Airports Authority

POSTED

19 days ago

DEADLINE

in 12 days
View Details
NAICS: 523150
SLED
Broker/Dealer Qualification Questionnaire for Establishment of the City of Raleigh Approved Broker/Dealer Investment Pool
Solicitation # 274-2027-CTYQuestionnaire
The City of Raleigh is seeking to qualify broker/dealer firms for inclusion in an approved investment pool to support its approximately 1.8 billion dollar investment portfolio. The City intends to establish a pool of no more than five qualified broker/dealers for a five-year period. All investment activities must be conducted in accordance with the City's Investment and Portfolio Policy and North Carolina General Statutes, specifically N.C.G.S. 159-30 and 147-69.2. Interested firms must submit a completed qualification questionnaire by October 14, 2026, to the Investment and Cash Manager. Applicants are required to provide comprehensive documentation, including current audited financial statements, proof of NASD certification for non-bank institutions, resumes and FINRA reports for primary and secondary account representatives, and a complete schedule of fees and charges. Evaluation factors include the firm's regulatory status, financial condition, overall reputation, experience with public funds, and transaction failure rates. While approval allows a firm to be considered for transactions, it does not guarantee any minimum volume or value of business. Selected firms must ensure all securities are delivered against payment to the City's designated third-party custodian and maintain strict adherence to the City's risk constraints and investment objectives.
City of Raleigh

POSTED

21 days ago

DEADLINE

in about 21 hours
View Details
NAICS: 523150
Closed
SLED
COMPETITIVE CONTRACTING: MUNICIPAL ADVISORY SERVICES
Solicitation # 26-16
The City of Camden is soliciting proposals for a qualified firm to serve as its municipal advisor to manage financial matters, specifically focusing on the issuance of taxable and tax-exempt debt. The selected advisor will be responsible for providing strategic counsel on municipal financial markets, conducting debt affordability analyses, and developing financing plans and timelines. Key deliverables include recommending the structure, timing, and terms of debt issues, assisting in the preparation of bond documents and Official Statements, and maintaining active liaison with credit rating agencies to ensure the City achieves and maintains a top-tier financial position. Proposals must be submitted electronically via the Bids&Tenders portal by October 9, 2026, at 11:00 AM. Evaluation will be based on technical expertise, management approach, record of satisfactory performance, and cost-effectiveness. Required submission documents include a completed RFP checklist, statement of ownership, non-collusion affidavit, New Jersey Business Registration Certificate, and EEO/Affirmative Action compliance forms. The contract is governed by the Municipal Rehabilitation and Economic Recovery Act and New Jersey Local Unit Pay to Play Legislation, with a requirement for firms to maintain both general and professional liability insurance. Pricing is to be proposed by the offeror through hourly rates for key personnel and support staff, with travel billed at half the proposed rate.
City of Camden

POSTED

25 days ago

CLOSED

4 days ago
View Details
NAICS: 523150
Closed
SLED
Proposed Limited Obligation Bonds, Series 2026
Solicitation # RFP - Underwriting Services
The City of Madison is seeking proposals for underwriting services related to the issuance of Limited Obligation Bonds, Series 2026. The primary purpose of these bonds is to fund the acquisition, construction, and equipping of a new municipal aquatic center, estimated at a cost of 12 million dollars, which will be shared by the City and the Madison City Board of Education. The selected firm will be responsible for all customary underwriting duties, including recommending financing structures, preparing official statements, monitoring market conditions, and managing the marketing and sale of the bonds. Proposals are due by October 6, 2026, at 3:00 PM. The chosen underwriter must be able to dedicate sufficient personnel to meet potentially expedited timing requirements based on market conditions. Interested parties should direct inquiries to Rushton Rice. The status of proposals is expected to be communicated in early October 2026, though a final award date has not yet been established.
City of Madison

POSTED

25 days ago

CLOSED

7 days ago
View Details
NAICS: 523150
SLED
Broker-Dealer Application (BDA) 2026
Solicitation # DBA 23-000122
The County of Orange, through the County Executive Office of Budget and Finance, is soliciting applications via solicitation number DBA 23-000122 to establish an Approved Broker-Dealers List for investment-related services. This process evaluates Broker-Dealers based on a standardized points-based scoring matrix, with key evaluation weights assigned to client services (20%), references (20%), investment types (15%), and trade ID confirmation efficiency (15%). Additional factors include primary dealer status, the use of electronic trading platforms, research portal capabilities, and firm personnel experience. To be eligible, applicants must have at least five years of operating experience, hold SEC and FINRA registrations, be authorized to operate in California, and comply with SEC Rule 15c3-1 net capital requirements. Interested firms must submit their applications electronically in PDF format via the County's online bidding system by October 21, 2026, at 3:00 pm. Required documentation includes a completed application, the most recent audited annual report, Form BD Status Report, SEC Form X-17 A-5 Focus Report, a service level agreement, MSRB Rule G-37 filings, and a signed Levine Act Campaign Contribution Disclosure Form. Approved firms are expected to provide trade confirmations to the County's custodian within two hours of execution and deliver monthly statements electronically. This solicitation is for the purpose of establishing a slate of authorized providers and does not constitute a binding contract or guarantee of inclusion.
County Executive Office - Budget & Finance

POSTED

27 days ago

DEADLINE

in 8 days
View Details
NAICS: 523150
Awarded
International
Broker for Listed Shares
Solicitation # P26-0029
Scottish Enterprise is seeking to appoint a single supplier to provide execution only listed share brokerage services. This procurement process, identified by solicitation number P26-0029, aims to secure a professional partner capable of delivering brokerage services as specified in the invitation to tender. The contract was posted on September 16, 2026, and is managed by Scottish Enterprise. Interested parties can find further details through the official tender portal, with Gordon Hutton serving as the primary point of contact for this award notice.
Scottish Enterprise

POSTED

27 days ago

DEADLINE

N/A
View Details
NAICS: 523150
Closed
SLED
RFQ#2626-004 Broker/Dealer Questionnaire & Certification
Solicitation # RFQ#2627-004
The City of Redondo Beach is issuing a solicitation for a Broker/Dealer Questionnaire and Certification under RFQ#2626-004 and RFQ#2627-004. This local government opportunity is based in Redondo Beach, California, and requires interested parties to submit their responses by the deadline of October 9, 2026, at 2:00 PM PT. Prospective bidders must access the official procurement portal to obtain the necessary documentation and complete any required registrations. All inquiries regarding the contents of the solicitation or missing information should be directed to the originator, and it is the responsibility of the applicant to ensure all addenda are reviewed via the provided third party website.
City of Redondo Beach

POSTED

29 days ago

CLOSED

4 days ago
View Details
NAICS: 523150
Closed
SLED
$12,700,000.00 Anderson County SC Limited Obligation Bond
Solicitation # 2027-008
Anderson County, South Carolina, is seeking bids from qualified financial institutions for the $12,700,000.00 Anderson County SC Limited Obligation Bond Series 2026. This solicitation, identified as RFP 2027-008, is intended to secure financing for various tourism related projects within the county. Interested parties must request the RFP from First Tryon Advisors by contacting Amy Vitner. The solicitation was posted on September 15, 2026, and the deadline for responses is October 6, 2026, at 2:00 PM.
Anderson County

POSTED

29 days ago

CLOSED

7 days ago
View Details

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