');padding-left:32px}label{color:#313439;margin-bottom:4px;font-size:15px}form{margin-bottom:2rem}.row{display:-webkit-box;display:-webkit-flex;display:-moz-flex;display:-ms-flexbox;display:flex;-webkit-box-flex:0;-webkit-flex:0 1 auto;-moz-box-flex:0;-moz-flex:0 1 auto;-ms-flex:0 1 auto;flex:0 1 auto;-webkit-box-direction:normal;-webkit-flex-direction:row;-moz-flex-direction:row;-ms-flex-direction:row;flex-direction:row;-webkit-flex-wrap:wrap;-moz-flex-wrap:wrap;-ms-flex-wrap:wrap;flex-wrap:wrap;margin-right:-15px;margin-left:-15px}.row.basis-auto{-webkit-flex-basis:auto;-moz-flex-basis:auto;-ms-flex-preferred-size:auto;flex-basis:auto;-webkit-box-align:center;-ms-flex-align:center;-webkit-align-items:center;-moz-align-items:center;align-items:center}.row>*{-webkit-flex-basis:100%;-moz-flex-basis:100%;-ms-flex-preferred-size:100%;flex-basis:100%;padding-right:15px;padding-left:15px}.row:after,.row:before{position:absolute}.col-xs{-webkit-flex-shrink:0;-moz-flex-shrink:0;-ms-flex-negative:0;flex-shrink:0;padding-right:15px;padding-left:15px}.col-xs-fit{box-sizing:border-box;-webkit-flex-shrink:0;-moz-flex-shrink:0;-ms-flex-negative:0;flex-shrink:0;padding-right:15px;padding-left:15px;-webkit-flex-basis:auto;-moz-flex-basis:auto;-ms-flex-preferred-size:auto;flex-basis:auto;-webkit-box-flex:0;-webkit-flex-grow:0;-moz-flex-grow:0;-ms-flex-positive:0;flex-grow:0;max-width:100%}.col-xs{-webkit-box-flex:1;-webkit-flex-grow:1;-moz-flex-grow:1;-ms-flex-positive:1;flex-grow:1;-webkit-flex-basis:0;-moz-flex-basis:0;-ms-flex-preferred-size:0;flex-basis:0;max-width:100%}.start-xs{-webkit-box-pack:start;-ms-flex-pack:start;-webkit-justify-content:flex-start;-moz-justify-content:flex-start;justify-content:flex-start}.middle-xs{-webkit-box-align:center;-ms-flex-align:center;-webkit-align-items:center;-moz-align-items:center;align-items:center}@media only screen and (min-width:768px){.col-sm-fit{box-sizing:border-box;padding-right:15px;padding-left:15px}.col-sm-fit{-webkit-flex-shrink:0;-moz-flex-shrink:0;-ms-flex-negative:0;flex-shrink:0;-webkit-flex-basis:auto;-moz-flex-basis:auto;-ms-flex-preferred-size:auto;flex-basis:auto;-webkit-box-flex:0;-webkit-flex-grow:0;-moz-flex-grow:0;-ms-flex-positive:0;flex-grow:0;max-width:100%}}.screen-reader-text{clip:rect(1px,1px,1px,1px);position:absolute!important;height:1px;width:1px;overflow:hidden;word-wrap:normal!important}.header-top-bar{background-color:#222;display:none;padding-left:5%;padding-right:5%}.header-top-bar-inner{height:40px}.header-top-bar-area{position:relative}.header-top-bar-area.area-right .top-bar-field:last-of-type{padding-right:0}.top-bar-field{float:left;font-size:12px;text-align:left;color:#fff;padding:11px 15px}.top-bar-field span{line-height:18px;font-size:.8rem;float:left}@media (min-width:768px){.header-top-bar{display:block}}#mainmenu_container{display:none}@media (min-width:768px){#mainmenu_container{display:flex}}ul.dropdown-menu{list-style:none;padding:0;margin:0;display:none;z-index:1;left:0;box-sizing:border-box;width:100%;position:absolute}ul.dropdown-menu li{display:block;position:relative;color:#fff;overflow:hidden;padding:.85rem}ul.dropdown-menu li a{display:block;text-decoration:none;white-space:nowrap;color:inherit;position:relative}ul.dropdown-menu li.menu-item-has-children>a:after{content:"\f0d7";font-family:FontAwesome;display:inline-block;color:inherit;font-size:.8em;box-sizing:border-box;width:20px;height:100%;text-align:center;position:absolute;right:1em;opacity:.9}ul.dropdown-menu ul{margin-left:0;left:0;padding-left:1em;min-width:100%;display:block;box-sizing:border-box;opacity:0;height:0;overflow:hidden;box-shadow:1px 1px 4px 2px rgba(0,0,0,.11);border-radius:2px;background-color:#fff}ul.dropdown-menu ul li{border-top:0;color:#6b7c93;line-height:120%;font-weight:600;position:relative;padding:.75rem 1.5rem;font-size:14px}ul.dropdown-menu ul li:after{display:block;content:' ';width:100%;height:1px;background-color:rgba(128,128,128,.2);position:absolute;left:0;bottom:0;mix-blend-mode:exclusion}ul.dropdown-menu ul li:last-of-type:after{display:none}ul.dropdown-menu:after,ul.dropdown-menu:before{content:" ";display:table}@media (min-width:768px){ul.dropdown-menu{display:-webkit-box;display:-webkit-flex;display:-moz-flex;display:-ms-flexbox;display:flex;-webkit-box-flex:1;-webkit-flex:1 0 auto;-moz-box-flex:1;-moz-flex:1 0 auto;-ms-flex:1 0 auto;flex:1 0 auto;-webkit-box-direction:normal;-webkit-box-orient:horizontal;-webkit-flex-direction:row;-moz-flex-direction:row;-ms-flex-direction:row;flex-direction:row;-webkit-flex-wrap:wrap;-moz-flex-wrap:wrap;-ms-flex-wrap:wrap;flex-wrap:wrap;position:static}ul.dropdown-menu>li>a{font-weight:600;font-style:normal;font-size:14px;line-height:160%;letter-spacing:1px;text-transform:uppercase}ul.dropdown-menu>li>ul{left:.85rem}ul.dropdown-menu li ul{position:absolute;padding-left:0;min-width:200px;z-index:10;top:100%}ul.main-menu>li.menu-item-has-children>a:after{vertical-align:middle;position:relative;right:0;margin-left:-.2em;margin-top:-.3em}}ul.dropdown-menu>li{color:#fff}.header-top{align-items:center;width:100%;position:absolute;z-index:100}.navigation-bar{display:block;width:100%;-webkit-backface-visibility:hidden;-moz-backface-visibility:hidden;-ms-backface-visibility:hidden;-o-backface-visibility:hidden;backface-visibility:hidden;padding-top:1rem;padding-bottom:1rem;position:relative}.navigation-wrapper:not(.gridContainer){padding-left:5%;padding-right:5%}.logo_col,.main_menu_col{text-align:left;display:-webkit-box;display:-webkit-flex;display:-moz-flex;display:-ms-flexbox;display:flex;-webkit-box-align:center;-ms-flex-align:center;-webkit-align-items:center;-moz-align-items:center;align-items:center}.main_menu_col{justify-content:flex-end}.logo_col{-webkit-flex-basis:auto;-moz-flex-basis:auto;-ms-flex-preferred-size:auto;flex-basis:auto;max-width:80%}a.text-logo,a.text-logo:visited{text-decoration:none;font-size:1.6rem;line-height:100%;color:#fff;font-weight:600;text-transform:uppercase}.header-wrapper{position:relative;-webkit-box-flex:0;-webkit-flex:0 0 auto;-moz-box-flex:0;-moz-flex:0 0 auto;-ms-flex:0 0 auto;flex:0 0 auto;flex-grow:0}.header-wrapper>div[class*=header]{flex-grow:1}.header{background-position:center center;background-repeat:no-repeat;background-size:cover;position:relative;z-index:0}@media (min-width:768px){.logo_col{max-width:30%}}.offcanvas-right{left:auto;right:0;border-left:1px solid rgba(0,0,0,.1)}#offcanvas-wrapper,.site{-webkit-box-direction:normal;-webkit-box-orient:vertical}.main_menu_col [data-component=offcanvas]{color:#fff;position:relative;text-align:center}.main_menu_col [data-component=offcanvas] .bubble{position:absolute;z-index:0;height:2.5rem;width:2.5rem;background-color:#000;opacity:.1;border-radius:100%}.main_menu_col [data-component=offcanvas] i.fa{font-size:1.1rem;line-height:2.5rem;height:2.5rem;width:2.5rem;text-align:center;position:relative;z-index:1}#offcanvas-wrapper{left:auto;right:0;background-color:#222b34;padding:0;overflow:auto;z-index:99999;display:-webkit-box;display:-webkit-flex;display:-moz-flex;display:-ms-flexbox;display:flex;-webkit-box-flex:0;-webkit-flex:0 1 auto;-moz-box-flex:0;-moz-flex:0 1 auto;-ms-flex:0 1 auto;flex:0 1 auto;-webkit-flex-direction:column;-moz-flex-direction:column;-ms-flex-direction:column;flex-direction:column}#offcanvas-wrapper.hide{display:none}#offcanvas-wrapper.force-hide{display:none!important;width:0!important;overflow:hidden}#offcanvas-wrapper .offcanvas-top{padding-top:2rem;padding-bottom:2rem}#offcanvas-wrapper .offcanvas-top .logo-holder a{color:#fff;text-decoration:none;font-size:1.5rem;text-align:center;display:block}#offcanvas-wrapper .social-icons{bottom:0;padding-bottom:1rem;z-index:1;text-align:center;width:100%}#offcanvas-wrapper #offcanvas-menu{-webkit-box-flex:1;-webkit-flex:1 1 auto;-moz-box-flex:1;-moz-flex:1 1 auto;-ms-flex:1 1 auto;flex:1 1 auto}.offcanvas_menu{margin-left:0;list-style:none;flex:1}.offcanvas_menu *{color:#fff}.offcanvas_menu ul{list-style:none}.offcanvas_menu li{color:#fff;border-bottom:1px solid rgba(128,128,128,.2);font-size:.8rem;text-align:left}.offcanvas_menu li a{text-decoration:none;color:inherit;position:relative;display:block;padding:.75rem 0 .75rem 2.5rem;font-size:.875rem;line-height:1}.offcanvas_menu li:first-of-type{border-bottom:1px solid rgba(128,128,128,.2)}.offcanvas_menu li>ul{display:none;margin-left:0;background-color:rgba(255,255,255,.2)}.offcanvas_menu li>ul>li>a{padding-left:3.75rem}@media (min-width:768px) and (max-width:1023px){[data-component=offcanvas]{display:none}}@media (min-width:1024px){[data-component=offcanvas]{display:none}}.site{display:-webkit-box;display:-webkit-flex;display:-moz-flex;display:-ms-flexbox;box-sizing:border-box}body{min-height:1px}.site{display:flex;-webkit-box-flex:0;-webkit-flex:0 1 auto;-moz-box-flex:0;-moz-flex:0 1 auto;-ms-flex:0 1 auto;flex:0 1 auto;-webkit-flex-direction:column;-moz-flex-direction:column;-ms-flex-direction:column;flex-direction:column;min-height:100vh}i.fa{color:#acb7c3}a i.fa{color:inherit}body{font-family:"Open Sans",Helvetica,Arial,sans-serif;color:#6b7c93}body h1{font-family:Muli,Helvetica,Arial,sans-serif;font-weight:400;font-style:normal;font-size:1rem;line-height:1.8rem;color:#d3d8e1}body h2{font-family:Muli,Helvetica,Arial,sans-serif;font-weight:600;font-style:normal;font-size:2.188rem;line-height:3rem;text-transform:none;color:#3c424f}.header-top-bar{background:#1e2429}.header-top-bar-inner{height:40px}.header-top-bar .header-top-bar-area.area-right span{color:#fff}.header-top-bar .header-top-bar-area.area-right span.top-bar-text{color:#03a9f4}.mesmerize-inner-page #main_menu>li>a{font-family:"Open Sans",Helvetica,Arial,sans-serif;font-weight:600;font-style:normal;font-size:14px;line-height:160%;letter-spacing:1px;text-transform:uppercase}[data-component=offcanvas] i.fa{color:#fff!important}[data-component=offcanvas] .bubble{background-color:#fff!important}#offcanvas-wrapper{background-color:#222B34!important}#offcanvas-wrapper *{color:#ffffff!important}#offcanvas_menu li>ul{background-color:#686b77}#offcanvas_menu li>a{font-family:"Open Sans",Helvetica,Arial,sans-serif;font-weight:400;font-size:.875rem;line-height:100%;letter-spacing:0px;text-transform:none}.navigation-bar:not(.homepage) a.text-logo,.navigation-bar:not(.homepage) a.text-logo{color:#fff;font-family:inherit;font-weight:600;font-size:1.6rem;line-height:100%;letter-spacing:0px;text-transform:uppercase}@media (max-width:1023px){body{font-size:calc(16px*0.875)}}@media (min-width:1024px){body{font-size:16px}}@media only screen and (min-width:768px){body h1{font-size:2rem}body h2{font-size:24px}}body .header-title{font-size:20px;line-height:1.5;margin-bottom:0;text-align:left;color:#fff}body .header-title h1{font-size:14px!important}.navigation-bar .header-top-bar__login{display:none}@media (max-width:768px){body .header-title{font-size:18px;margin-bottom:0;text-align:left}.navigation-bar .header-top-bar__login{display:block;margin-right:7px}}@media (max-width:576px){body .header-title{font-size:14px;margin-bottom:0;text-align:left}}.navigation-wrapper:not(.gridContainer),.header-top-bar{padding-left:2%;padding-right:2%}@media (min-width:768px){.header-top-bar{display:flex;justify-content:right}}@media (max-width:768px){.header-top-bar{display:none}}.header-top#page-top{position:relative!important}.header-top .navigation-bar{padding-top:0;padding-bottom:0;position:relative!important;background:#263855!important}.main_menu_col{position:relative}.header-top-bar-inner{display:-webkit-box;display:-webkit-flex;display:-moz-box;display:-ms-flexbox;display:flex;-webkit-box-orient:horizontal;-webkit-box-direction:normal;-webkit-flex-flow:row nowrap;-moz-box-orient:horizontal;-moz-box-direction:normal;-ms-flex-flow:row nowrap;flex-flow:row nowrap;-webkit-box-pack:end;-webkit-justify-content:flex-end;-moz-box-pack:end;-ms-flex-pack:end;justify-content:flex-end}.header-top-bar__login{-webkit-box-flex:0;-webkit-flex:none;-moz-box-flex:0;-ms-flex:none;flex:none;display:flex;align-items:center}.header-top-bar__login .login-link{display:inline-block;vertical-align:middle;margin-right:10px;font-size:14px;font-weight:700;text-decoration:none;color:#fff}.header-top-bar__login .login-link:last-child{margin-right:0}.header-top-bar__login .login-link--register{color:#03a9f4}.nsl-container{display:-webkit-box!important;display:-webkit-flex!important;display:-moz-box!important;display:-ms-flexbox!important;display:flex!important;-webkit-justify-content:space-around;-ms-flex-pack:distribute;justify-content:space-around;max-width:none!important;-webkit-flex-wrap:wrap;-ms-flex-wrap:wrap;flex-wrap:wrap}@media (max-width:768px){.login-link--register{display:none}}@media only screen and (max-width:767px){.nsl-container{-webkit-flex-direction:column;-ms-flex-direction:column;flex-direction:column}.news-feed__social-registration>.nsl-container{align-items:center}.news-feed__social-registration>.nsl-container>a{max-width:none!important}.news-feed__social-registration>.nsl-container .nsl-button-label-container{margin:0 auto}.pum-container{padding:0!important}}.sign-up__popup{visibility:hidden;position:fixed;top:0;right:0;bottom:0;left:0;padding:1.5rem;display:-webkit-box;display:-webkit-flex;display:-moz-box;display:-ms-flexbox;display:flex;-webkit-box-pack:center;-webkit-justify-content:center;-moz-box-pack:center;-ms-flex-pack:center;justify-content:center;-webkit-box-align:center;-webkit-align-items:center;-moz-box-align:center;-ms-flex-align:center;align-items:center;z-index:200}.sign-up__popup-inner{position:relative;-webkit-border-radius:3px;border-radius:3px;background-color:#fff;padding:20px 30px;max-width:95%;width:500px;background-color:#fff;-webkit-box-shadow:0 3px 6px rgba(0,0,0,.16),0 3px 6px rgba(0,0,0,.23);box-shadow:0 3px 6px rgba(0,0,0,.16),0 3px 6px rgba(0,0,0,.23);opacity:0;-webkit-transform:scale(.8);-moz-transform:scale(.8);-ms-transform:scale(.8);-o-transform:scale(.8);transform:scale(.8)}.sign-up__popup-inner form{margin-bottom:0}.sign-up__popup p{margin:0 0 20px;color:#000}.sign-up__field{margin-bottom:10px;width:100%;height:60px;-webkit-border-radius:3px;border-radius:3px;border:1px solid #aaa;font-size:20px;text-align:center}.sign-up__close-button{position:absolute;top:-8px;right:-8px;display:-webkit-box;display:-webkit-flex;display:-moz-box;display:-ms-flexbox;display:flex;-webkit-box-align:center;-webkit-align-items:center;-moz-box-align:center;-ms-flex-align:center;align-items:center;-webkit-box-pack:center;-webkit-justify-content:center;-moz-box-pack:center;-ms-flex-pack:center;justify-content:center;width:30px;height:30px;-webkit-border-radius:50%;border-radius:50%;background-color:#555;color:#fff;font-size:24px}.sign-up__button{width:100%;height:60px;-webkit-border-radius:3px;border-radius:3px;border:none;background-color:#253b68;color:#fff;font-size:18px}@media (max-width:578px){.sign-up__popup-inner{padding:15px}.sign-up__popup-header p{text-align:center}.sign-up__field{height:50px;font-size:16px}.sign-up__button{height:50px;font-size:16px}}.m-0{margin:0!important}.tml{margin:0 auto}.tml input[type=submit]{margin:0 auto;width:auto;min-width:auto;height:auto;min-height:auto;padding:10px 50px;-webkit-border-radius:3px;border-radius:3px;border:0;font-size:15px;line-height:1;font-weight:600;text-transform:uppercase;letter-spacing:1px;background:#0095ff;color:#fff;float:none}.tml>*{text-align:left}.tml{text-align:center}.tml-wrapper-aside .tml{max-width:none;margin:10px 0 0}.tml-wrapper-aside .tml .btn,.tml-wrapper-aside .tml input[type=submit]{width:100%;background-color:#263855}.tml-simple input{width:100%!important;margin-bottom:20px}.tml-simple{max-width:280px;margin:10px auto 20px auto}.navigation-bar .login-link{padding-left:10px!important;padding-right:10px!important}.login-link-search:after{display:inline-block;width:14px;vertical-align:middle}.login-link-search:after{content:url("/wp-content/themes/mesmerize-pro/img/icon-search-white.svg")}.login-link-search,.navigation-bar .login-link-search{margin-right:5px}.header-search-panel{position:absolute;background-color:#37517b;top:0;right:0;z-index:999;padding:10px;color:#fff;max-width:400px;width:100%;margin:5px 2% 0;display:none;-webkit-box-shadow:0px 0px 10px 2px #263855;-moz-box-shadow:0px 0px 10px 2px #263855;box-shadow:0px 0px 10px 2px #263855}.header-search-panel .search-form{margin:0}.header-search-panel .search-field{padding:0 12px;border-color:#818ea8}.header-search-panel #searchsubmit{display:none}@media (max-width:768px){.header-search-panel{top:100%;width:auto}.header-search-panel{left:0}}.navigation-bar .login-link{margin-right:5px}ul.dropdown-menu li.menu-item-highlight a{color:#add8e6}body h1{color:#454545}a{color:#385898}.news-feed__social-registration.style-1 div.nsl-container-block>a{flex-basis:100%;text-decoration:none}form[name=registerform] input[type=submit]{font-family:"Open Sans",Helvetica,Arial,sans-serif;height:40px}.ref-widget{padding:10px;background-color:#fff;text-align:center;margin-bottom:25px}#page.site{display:block}button,input[type=submit]{color:inherit;border:none;padding:0;font:inherit;outline:inherit;height:40px;width:100%}.fa{-moz-osx-font-smoothing:grayscale;-webkit-font-smoothing:antialiased;display:inline-block;font-style:normal;font-variant:normal;text-rendering:auto;line-height:1}.fa-bars:before{content:"\f0c9"}.fa{font-family:"Font Awesome 5 Free"}.fa{font-weight:900}.pum-container,.pum-content,.pum-content+.pum-close,.pum-overlay{background:0 0;border:none;bottom:auto;clear:none;float:none;font-family:inherit;font-size:medium;font-style:normal;font-weight:400;height:auto;left:auto;letter-spacing:normal;line-height:normal;max-height:none;max-width:none;min-height:0;min-width:0;overflow:visible;position:static;right:auto;text-align:left;text-decoration:none;text-indent:0;text-transform:none;top:auto;visibility:visible;white-space:normal;width:auto;z-index:auto}.pum-content{position:relative;z-index:1}.pum-overlay{position:fixed}.pum-overlay{height:100%;width:100%;top:0;left:0;right:0;bottom:0;z-index:1999999999;overflow:initial;display:none}.pum-overlay,.pum-overlay *,.pum-overlay :after,.pum-overlay :before,.pum-overlay:after,.pum-overlay:before{box-sizing:border-box}.pum-container{top:100px;position:absolute;margin-bottom:3em;z-index:1999999999}.pum-container.pum-responsive{left:50%;margin-left:-47.5%;width:95%;height:auto;overflow:visible}@media only screen and (min-width:1024px){.pum-container.pum-responsive.pum-responsive-medium{margin-left:-30%;width:60%}}.pum-container .pum-content>:last-child{margin-bottom:0}.pum-container .pum-content>:first-child{margin-top:0}.pum-container .pum-content+.pum-close{text-decoration:none;text-align:center;line-height:1;position:absolute;min-width:1em;z-index:2;background-color:transparent}.pum-theme-5939,.pum-theme-enterprise-blue{background-color:rgba(0,0,0,.7)}.pum-theme-5939 .pum-container,.pum-theme-enterprise-blue .pum-container{padding:28px;border-radius:5px;border:1px none #000;box-shadow:0px 10px 25px 4px rgba(2,2,2,.5);background-color:rgba(255,255,255,1)}.pum-theme-5939 .pum-content,.pum-theme-enterprise-blue .pum-content{color:#2d2d2d;font-family:inherit}.pum-theme-5939 .pum-content+.pum-close,.pum-theme-enterprise-blue .pum-content+.pum-close{position:absolute;height:28px;width:28px;left:auto;right:8px;bottom:auto;top:8px;padding:4px;color:#fff;font-family:inherit;font-size:20px;line-height:20px;border:1px none #fff;border-radius:42px;box-shadow:0px 0px 0px 0px rgba(2,2,2,.23);text-shadow:0px 0px 0px rgba(0,0,0,.23);background-color:rgba(49,91,124,1)}.pum-theme-5937,.pum-theme-default-theme{background-color:rgba(255,255,255,1)}.pum-theme-5937 .pum-container,.pum-theme-default-theme .pum-container{padding:18px;border-radius:0;border:1px none #000;box-shadow:1px 1px 3px 0px rgba(2,2,2,.23);background-color:rgba(249,249,249,1)}.pum-theme-5937 .pum-content,.pum-theme-default-theme .pum-content{color:#8c8c8c;font-family:inherit;font-weight:inherit;font-style:normal}.pum-theme-5937 .pum-content+.pum-close,.pum-theme-default-theme .pum-content+.pum-close{position:absolute;height:auto;width:auto;left:auto;right:0;bottom:auto;top:0;padding:8px;color:#fff;font-family:inherit;font-weight:inherit;font-size:12px;font-style:normal;line-height:14px;border:1px none #fff;border-radius:0;box-shadow:0px 0px 0px 0px rgba(2,2,2,.23);text-shadow:0px 0px 0px rgba(0,0,0,.23);background-color:rgba(0,183,205,1)}#pum-7355{z-index:1999999999}#pum-24020{z-index:1999999999}.fa{display:inline-block}.fa{font:normal normal normal 14px/1 FontAwesome;font-size:inherit;text-rendering:auto;-webkit-font-smoothing:antialiased;-moz-osx-font-smoothing:grayscale}.fa-bars:before{content:"\f0c9"}[class*=" ep_font_"]{font-family:ep_icons!important;speak:never;font-style:normal;font-weight:400;font-variant:normal;text-transform:none;line-height:1;-webkit-font-smoothing:antialiased;-moz-osx-font-smoothing:grayscale}.ep_font_icon_arrow_carrot_right:before{content:""}.epkbfa{display:inline-block;font:normal normal normal 14px/1 FontAwesome;font-family:FontAwesome;font-size:inherit;text-rendering:auto;-webkit-font-smoothing:antialiased;-moz-osx-font-smoothing:grayscale}.epkbfa-user:before{content:""}.epkbfa-print:before{content:""}.epkbfa-pencil-square-o:before{content:""}.epkbfa-calendar:before{content:""}@keyframes spin{0%{transform:rotate(0)}100%{transform:rotate(360deg)}}.epkb-doc-search-container button,.epkb-doc-search-container div,.epkb-doc-search-container form,.epkb-doc-search-container input{margin:0;padding:0;border:0;outline:0;font-size:100%;vertical-align:baseline;font-weight:400;line-height:1;text-align:left;text-decoration:none;border:none;box-shadow:none;box-sizing:border-box;font-style:normal;list-style-type:none;list-style-image:none;float:none}#eckb-article-page-container-v2 .eckb-breadcrumb a,#eckb-article-page-container-v2 .eckb-breadcrumb li,#eckb-article-page-container-v2 .eckb-breadcrumb nav,#eckb-article-page-container-v2 .eckb-breadcrumb span,#eckb-article-page-container-v2 .eckb-breadcrumb ul,#eckb-article-page-container-v2 .eckb-navigation-back div{margin:0;padding:0;border:0;outline:0;vertical-align:baseline;font-weight:400;line-height:1;text-align:left;text-decoration:none;border:none;box-shadow:none;box-sizing:border-box;list-style-image:none}@keyframes spin{0%{transform:rotate(0)}100%{transform:rotate(360deg)}}#eckb-article-page-container-v2{position:relative;text-align:left;margin:auto;display:flex;flex-direction:column}#eckb-article-page-container-v2 .epkb-doc-search-container{position:relative;z-index:1;padding:50px 0;max-width:100%;text-align:center;width:100%}#eckb-article-page-container-v2 .epkb-doc-search-container .epkb-doc-search-container__title{text-align:center;font-size:30px;margin-bottom:23px}@media only screen and (min-width:769px){#eckb-article-page-container-v2 .epkb-doc-search-container .epkb-doc-search-container__title{font-size:36px}}#eckb-article-page-container-v2 .epkb-doc-search-container .epkb-search{width:80%;margin:0 auto;position:relative}@media only screen and (max-width:768px){#eckb-article-page-container-v2 .epkb-doc-search-container .epkb-search{width:100%!important}}#eckb-article-page-container-v2 .epkb-doc-search-container .epkb-search .epkb-search-box{position:relative;text-align:center;display:block}@media only screen and (min-width:769px){#eckb-article-page-container-v2 .epkb-doc-search-container .epkb-search .epkb-search-box{display:flex}}#eckb-article-page-container-v2 .epkb-doc-search-container .epkb-search .epkb-search-box input[type=text]{width:80%!important;line-height:22px;font-size:18px;padding:10px 43px!important;height:50px;display:inline-block!important;-webkit-box-sizing:border-box;-moz-box-sizing:border-box;box-sizing:border-box}@media only screen and (min-width:769px){#eckb-article-page-container-v2 .epkb-doc-search-container .epkb-search .epkb-search-box input[type=text]{width:100%!important}}#eckb-article-page-container-v2 .epkb-doc-search-container .epkb-search .epkb-search-box .epkb-search-box_button-wrap{display:inline-block;width:80%;font-size:18px}@media only screen and (min-width:769px){#eckb-article-page-container-v2 .epkb-doc-search-container .epkb-search .epkb-search-box .epkb-search-box_button-wrap{display:block;width:initial}}#eckb-article-page-container-v2 .epkb-doc-search-container .epkb-search .epkb-search-box .epkb-search-box_button-wrap button{text-align:center;line-height:22px;font-size:18px;padding:10px 15px!important;height:50px;display:inline-block;-webkit-box-sizing:border-box;-moz-box-sizing:border-box;box-sizing:border-box;word-break:normal;word-wrap:normal;width:100%;position:relative;margin-top:24px}@media only screen and (min-width:769px){#eckb-article-page-container-v2 .epkb-doc-search-container .epkb-search .epkb-search-box .epkb-search-box_button-wrap button{width:fit-content;margin-top:initial;position:initial}}#eckb-article-page-container-v2 .epkb-doc-search-container .epkb-search-form-1 .epkb-search-box{word-break:normal}@media only screen and (min-width:769px){#eckb-article-page-container-v2 .epkb-doc-search-container .epkb-search-form-1 .epkb-search-box{display:flex}}#eckb-article-page-container-v2 .epkb-doc-search-container .epkb-search-form-1 .epkb-search-box input[type=text]{margin-right:-3px}#eckb-article-page-container-v2 .epkb-doc-search-container .epkb-search-form-1 .epkb-search-box .epkb-search-box_button-wrap button{display:inline-block!important;top:0;right:-1px;margin:0;margin-top:24px;position:relative;box-sizing:border-box;width:100%}@media only screen and (min-width:769px){#eckb-article-page-container-v2 .epkb-doc-search-container .epkb-search-form-1 .epkb-search-box .epkb-search-box_button-wrap button{width:fit-content;margin-top:0;position:initial}}#eckb-article-page-container-v2 #eckb-article-header{width:100%}#eckb-article-page-container-v2 #eckb-article-body{display:grid;grid-template-rows:auto;align-items:stretch;width:100%;max-width:100%;grid-template-areas:"left-sidebar content right-sidebar";margin:0 auto}#eckb-article-page-container-v2 #eckb-article-body #eckb-article-left-sidebar{position:relative}#eckb-article-page-container-v2 #eckb-article-body #eckb-article-content{position:relative}#eckb-article-page-container-v2 #eckb-article-body #eckb-article-content #eckb-article-content-header-v2{width:100%;display:flex;position:relative;flex-direction:column}#eckb-article-page-container-v2 #eckb-article-body #eckb-article-content #eckb-article-content-header-v2 .eckb-article-content-header-row-left-group{display:flex;justify-content:flex-start;flex-wrap:wrap;margin-right:30px}#eckb-article-page-container-v2 #eckb-article-body #eckb-article-content #eckb-article-content-header-v2 .eckb-article-content-header-row-right-group{display:flex;justify-content:flex-end;flex-wrap:wrap;flex:1}#eckb-article-page-container-v2 #eckb-article-body #eckb-article-content #eckb-article-content-header-v2 #eckb-article-content-header-row-1,#eckb-article-page-container-v2 #eckb-article-body #eckb-article-content #eckb-article-content-header-v2 #eckb-article-content-header-row-2,#eckb-article-page-container-v2 #eckb-article-body #eckb-article-content #eckb-article-content-header-v2 #eckb-article-content-header-row-3{display:flex;flex-direction:column;justify-content:flex-start;position:relative}#eckb-article-page-container-v2 #eckb-article-body #eckb-article-content #eckb-article-content-header-v2 #eckb-article-content-title-container{display:flex;justify-content:space-between;align-items:center}#eckb-article-page-container-v2 #eckb-article-body #eckb-article-content #eckb-article-content-header-v2 #eckb-article-content-title-container .eckb-article-title{margin:0;padding:0}#eckb-article-page-container-v2 #eckb-article-body #eckb-article-content #eckb-article-content-header-v2 .eckb-article-content-created-date-container{display:flex;justify-content:space-between;align-items:center;margin:0 10px 0 0}#eckb-article-page-container-v2 #eckb-article-body #eckb-article-content #eckb-article-content-header-v2 .eckb-article-content-created-date-container .eckb-meta-data-feature-icon{margin-right:5px}#eckb-article-page-container-v2 #eckb-article-body #eckb-article-content #eckb-article-content-header-v2 .eckb-article-content-created-date-container .eckb-meta-data-feature-text{margin-right:5px;white-space:nowrap}#eckb-article-page-container-v2 #eckb-article-body #eckb-article-content #eckb-article-content-header-v2 .eckb-article-content-created-date-container .eckb-meta-data-feature-value time{white-space:nowrap}#eckb-article-page-container-v2 #eckb-article-body #eckb-article-content #eckb-article-content-header-v2 .eckb-article-content-last-updated-date-container{display:flex;justify-content:space-between;align-items:center;margin:0 10px 0 0}#eckb-article-page-container-v2 #eckb-article-body #eckb-article-content #eckb-article-content-header-v2 .eckb-article-content-last-updated-date-container .eckb-meta-data-feature-icon{margin-right:5px}#eckb-article-page-container-v2 #eckb-article-body #eckb-article-content #eckb-article-content-header-v2 .eckb-article-content-last-updated-date-container .eckb-meta-data-feature-text{margin-right:5px;white-space:nowrap}#eckb-article-page-container-v2 #eckb-article-body #eckb-article-content #eckb-article-content-header-v2 .eckb-article-content-last-updated-date-container .eckb-meta-data-feature-value time{white-space:nowrap}#eckb-article-page-container-v2 #eckb-article-body #eckb-article-content #eckb-article-content-header-v2 .eckb-article-content-author-container{display:flex;justify-content:space-between;align-items:center;margin:0 10px 0 0}#eckb-article-page-container-v2 #eckb-article-body #eckb-article-content #eckb-article-content-header-v2 .eckb-article-content-author-container .eckb-meta-data-feature-icon{margin-right:5px}#eckb-article-page-container-v2 #eckb-article-body #eckb-article-content #eckb-article-content-header-v2 .eckb-article-content-author-container .eckb-meta-data-feature-text{margin-right:5px;white-space:nowrap}#eckb-article-page-container-v2 #eckb-article-body #eckb-article-content #eckb-article-content-header-v2 .eckb-article-content-author-container .eckb-meta-data-feature-value{white-space:nowrap}#eckb-article-page-container-v2 #eckb-article-body #eckb-article-content #eckb-article-content-header-v2 #eckb-article-content-breadcrumb-container{display:flex;justify-content:space-between;align-items:center}#eckb-article-page-container-v2 #eckb-article-body #eckb-article-content #eckb-article-content-header-v2 #eckb-article-content-breadcrumb-container .eckb-breadcrumb-outline{display:inline-block}#eckb-article-page-container-v2 #eckb-article-body #eckb-article-content #eckb-article-content-header-v2 #eckb-article-content-breadcrumb-container .eckb-breadcrumb-nav{padding:0;display:inline}#eckb-article-page-container-v2 #eckb-article-body #eckb-article-content #eckb-article-content-header-v2 #eckb-article-content-breadcrumb-container .eckb-breadcrumb-nav li{display:inline;padding-right:10px}#eckb-article-page-container-v2 #eckb-article-body #eckb-article-content #eckb-article-content-header-v2 #eckb-article-content-breadcrumb-container .eckb-breadcrumb-nav li a{text-decoration:none;font-weight:inherit;font-family:inherit}#eckb-article-page-container-v2 #eckb-article-body #eckb-article-content #eckb-article-content-header-v2 #eckb-article-content-breadcrumb-container .eckb-breadcrumb-nav li a span{font-weight:inherit;font-family:inherit}#eckb-article-page-container-v2 #eckb-article-body #eckb-article-content #eckb-article-content-header-v2 #eckb-article-content-breadcrumb-container .eckb-breadcrumb-link{font-weight:inherit;font-family:inherit}#eckb-article-page-container-v2 #eckb-article-body #eckb-article-content #eckb-article-content-header-v2 #eckb-article-content-breadcrumb-container .eckb-breadcrumb-link span[aria-current=page]{font-weight:inherit!important;font-family:inherit!important}#eckb-article-page-container-v2 #eckb-article-body #eckb-article-content #eckb-article-content-header-v2 #eckb-article-content-breadcrumb-container .eckb-breadcrumb-link-icon{font-size:.6em;line-height:2em;display:inline-block;vertical-align:middle;margin-left:6px}#eckb-article-page-container-v2 #eckb-article-body #eckb-article-content #eckb-article-content-header-v2 #eckb-article-content-breadcrumb-container .eckb-breadcrumb-link{font-weight:inherit}#eckb-article-page-container-v2 #eckb-article-body #eckb-article-content #eckb-article-content-header-v2 .eckb-navigation-back{float:left;width:100%}#eckb-article-page-container-v2 #eckb-article-body #eckb-article-content #eckb-article-content-header-v2 .eckb-navigation-back .eckb-navigation-button{float:left;white-space:nowrap}#eckb-article-page-container-v2 #eckb-article-body #eckb-article-content #eckb-article-content-header-v2 #eckb-article-content-toolbar-container .eckb-article-content-toolbar-button-container{display:flex;justify-content:flex-start;align-items:center}#eckb-article-page-container-v2 #eckb-article-body #eckb-article-content #eckb-article-content-header-v2 .eckb-print-button-container{display:flex;justify-content:flex-start;align-items:center}#eckb-article-page-container-v2 #eckb-article-body #eckb-article-content #eckb-article-content-header-v2 .eckb-print-button-container span:first-child{margin-right:5px}#eckb-article-page-container-v2 #eckb-article-body #eckb-article-content #eckb-article-content-body{width:100%}#eckb-article-page-container-v2 #eckb-article-body #eckb-article-right-sidebar{position:relative}@keyframes spin{0%{transform:rotate(0)}100%{transform:rotate(360deg)}}#eckb-article-page-container-v2 .epkb-doc-search-container .epkb-search .epkb-search-box input[type=text]{color:#000;border-style:solid!important}#eckb-article-page-container-v2 .epkb-doc-search-container .epkb-search .epkb-search-box input[type=text]::-webkit-input-placeholder{color:#c9c7c7}#eckb-article-page-container-v2 .epkb-doc-search-container .epkb-search .epkb-search-box input[type=text]::-moz-placeholder{color:#c9c7c7}#eckb-article-page-container-v2 .epkb-doc-search-container .epkb-search .epkb-search-box input[type=text]:-ms-input-placeholder{color:#c9c7c7}#eckb-article-page-container-v2 .epkb-doc-search-container .epkb-search .epkb-search-box input[type=text]:-moz-placeholder{color:#c9c7c7}#eckb-article-page-container-v2 .epkb-doc-search-container .epkb-search .epkb-search-box .epkb-search-box_button-wrap button{color:#fff;text-shadow:0 -1px 1px rgba(0,0,0,.4);border-style:solid!important}#eckb-article-page-container-v2 .epkb-doc-search-container .loading-spinner{display:none;position:absolute;border:3px solid #f3f3f3;border-top:4px solid #3498db;border-radius:50%;width:23px;height:23px;animation:spin 1s linear infinite;top:13px;left:9px}@media only screen and (max-width:768px){#eckb-article-page-container-v2 .epkb-doc-search-container .loading-spinner{left:12%}}#eckb-article-page-container-v2 .epkb-doc-search-container #epkb_search_results{text-align:left;background-color:#fff;border:solid 1px #ddd;padding:10px;display:none}@media only screen and (max-width:768px){#eckb-article-page-container-v2 .epkb-doc-search-container #epkb_search_results{width:80%!important;margin:0 auto}}#eckb-article-page-container-v2 .epkb-doc-search-container .epkb-search-form-1 input[type=text]{border-radius:5px!important}#eckb-article-page-container-v2 .epkb-doc-search-container .epkb-search-form-1 button{border-radius:0 5px 5px 0}@media only screen and (max-width:768px){#eckb-article-page-container-v2 .epkb-doc-search-container .epkb-search-form-1 button{border-radius:5px}}@keyframes spin{0%{transform:rotate(0)}100%{transform:rotate(360deg)}}#eckb-article-page-container-v2 #eckb-article-body #eckb-article-content #eckb-article-content-body{width:100%}#eckb-article-page-container-v2 #eckb-article-widget-sidebar-container.eckb-article-widget-sidebar--default-styles .eckb-article-widget-sidebar-body__widget{margin-bottom:30px;width:100%;font-size:14px}.eckb-front-end-body{overflow:visible}.eckb-front-end-body #page{overflow:visible}.eckb-kb-template{width:100%}.mesmerize-inner-page ul.dropdown-menu>li{color:#fff}.mesmerize-inner-page ul.dropdown-menu.active-line-bottom>li>a,.mesmerize-inner-page ul.dropdown-menu.active-line-bottom>li>a{border-bottom:3px solid transparent}.mesmerize-inner-page ul.dropdown-menu ul{background-color:#fff}.mesmerize-inner-page ul.dropdown-menu ul li{color:#6b7c93}.mesmerize-inner-page .main-menu,.mesmerize-inner-page .main_menu_col{justify-content:flex-end}div.nsl-container .nsl-button{vertical-align:top;border-radius:4px}div.nsl-container .nsl-button-default{color:#fff;display:flex}div.nsl-container .nsl-button-svg-container{flex:0 0 auto;padding:8px;display:flex;align-items:center}div.nsl-container svg{height:24px;width:24px;vertical-align:top}div.nsl-container .nsl-button-default div.nsl-button-label-container{margin:0 24px 0 12px;padding:10px 0;font-family:Helvetica,Arial,sans-serif;font-size:16px;line-height:20px;letter-spacing:.25px;overflow:hidden;text-align:center;text-overflow:clip;white-space:nowrap;flex:1 1 auto;-webkit-font-smoothing:antialiased;-moz-osx-font-smoothing:grayscale;text-transform:none;display:inline-block}.nsl-container{clear:both}.menu-item-178939{left:-50px}.menu-item-178940{left:-50px}.sub-menu{left:-50px}#eckb-article-page-container-v2{width:100%}#eckb-article-page-container-v2 #eckb-article-body{width:1140px}#eckb-article-page-container-v2 #eckb-article-body{grid-template-columns:0 70% 30%}#eckb-article-page-container-v2 #eckb-article-left-sidebar{display:none}#eckb-article-page-container-v2 #eckb-article-content{grid-column-start:1;grid-column-end:3}@media only screen and (max-width:1025px){#eckb-article-page-container-v2{width:100%}#eckb-article-page-container-v2 #eckb-article-body{width:100%}#eckb-article-page-container-v2 #eckb-article-body{grid-template-columns:0 70% 30%}#eckb-article-page-container-v2 #eckb-article-left-sidebar{display:none}#eckb-article-page-container-v2 #eckb-article-content{grid-column-start:1;grid-column-end:3}}#eckb-article-page-container-v2 #eckb-article-left-sidebar{padding:10px;background-color:#fff;margin-top:0}#eckb-article-page-container-v2 #eckb-article-content{padding:20px;background-color:#fff}.eckb-article-content-created-date-container,.eckb-article-content-last-updated-date-container,.eckb-article-content-author-container{color:#b1d5e1;font-size:14px!important}#eckb-article-page-container-v2 #eckb-article-right-sidebar{padding:10px;background-color:#fff;margin-top:0}@media only screen and (max-width:768px){#eckb-article-page-container-v2{width:100%}#eckb-article-page-container-v2 #eckb-article-content{grid-column-start:1;grid-column-end:4}#eckb-article-page-container-v2 #eckb-article-left-sidebar{grid-column-start:1;grid-column-end:4}#eckb-article-page-container-v2 #eckb-article-right-sidebar{grid-column-start:1;grid-column-end:4}#eckb-article-page-container-v2 #eckb-article-body{display:flex;flex-direction:column}#eckb-article-page-container-v2 #eckb-article-left-sidebar{order:3;margin-top:0!important}#eckb-article-page-container-v2 #eckb-article-content{order:2}#eckb-article-page-container-v2 #eckb-article-right-sidebar{order:1;margin-top:0!important}}@media only screen and (min-width:768px){#eckb-article-page-container-v2 #eckb-article-body #eckb-article-content #eckb-article-content-header-v2 #eckb-article-content-header-row-1,#eckb-article-page-container-v2 #eckb-article-body #eckb-article-content #eckb-article-content-header-v2 #eckb-article-content-header-row-2,#eckb-article-page-container-v2 #eckb-article-body #eckb-article-content #eckb-article-content-header-v2 #eckb-article-content-header-row-3{flex-direction:row}}#eckb-article-content-header-row-1{margin-bottom:8px}#eckb-article-content-header-row-1 .eckb-article-content-header-row-left-group,#eckb-article-content-header-row-1 .eckb-article-content-header-row-right-group{align-items:center}.eckb-article-content-toolbar-button-container{background-color:#fff;padding:10px;margin:0;border-radius:0;border-width:0;border-color:#fff;border-style:solid}.eckb-article-content-toolbar-button-container .eckb-toolbar-button-text{color:#000;font-size:15px}.eckb-article-content-toolbar-button-container .eckb-toolbar-button-icon{color:#000;font-size:20px}#eckb-article-content-header-row-2{margin-bottom:0}#eckb-article-content-header-row-2 .eckb-article-content-header-row-left-group{align-items:flex-end}#eckb-article-content-header-row-3{margin-bottom:32px}#eckb-article-content-header-row-3 .eckb-article-content-header-row-left-group{align-items:flex-end}
Unlocking Profit Potential: The Power of Proprietary Trading | MacroVar
Unlocking Profit Potential: The Power of Proprietary Trading Posted May 13, 2023
Updated October 3, 2023
By macrovar
Proprietary trading Proprietary trading also called prop’ trading is performed by professional traders in investment banks. Proprietary trading is linked with the traders’ role of market making.
Market making is the task of making markets for clients willing to buy or sell financial assets. This is performed by professional traders by taking the other side of clients to generate trading commissions. However, to generate business and make commissions, professional traders often take financial positions which are loss generating and undesirable.
Example: A client is willing to buy $1 million of Microsoft stock at $187 and the current price of Microsoft is $187.5. He calls a trader in an investment bank and makes a bid for $1 million of Microsoft stocks at $187. Since the trader is willing to keep the client and generate commissions, he is willing to offer stock for $187 incurring immediately a potential financial loss of $5,300 ($1 million x ($187-$187.5/$187.5).
The professional trader’s second role then is to use the investment bank’s balance sheet to make back more than the money lost in making markets for the clients. This is called proprietary trading.
Proprietary trading is the management of an investment portfolio. The investment portfolio consists of long positions the trader believes will outperform the market and short positions the trader believes will fall in price or underperform the long positions of the portfolio. The aim of a professional trader is to earn the best risk-adjusted return on capital possible.
Explore our guide on portfolio management created by our team of professional fund managers.
Get Free Access to MacroVar Analytics
Make the right financial and business decisions based on objective Financial & Economics data analytics to grow and protect wealth.
Welcome to MacroVar the financial analytics platform designed to help you identify trading and investment opportunities using data driven models. MacroVar uses statistical multi-factor models to analyze financial markets to generate automated signals for short-term trading and long-term investing. MacroVar models and the data analysed are transparent for anyone to explore .
×
Get Unlimited access to our database for Free by inviting your friends to MacroVar Help your friends make the right business & financial decisions using free MacroVar analytics. Click here to invite them and get upgraded for free .
×