Spider Rock Advisors

Michael: I'll admit, for me, sometimes they're hard to understand. The use case that I think from our clients that makes most sense is you have someone who comes in with a huge amount of shares in a public company and it's 90% of their net worth. So how do I change the risk reward profile of my current situation or my current positions without having a tax bill? Ben: reshaping that Amazon position into a variety of different outcomes to not only profit but manage risk are largely a core or core use case. And so we went to the drawing board and built a solution we call exchange fund replication.