Summer Street Research Partners, an institutional equity research and trading firm, plans to donate all of its trading revenue from April 29 to benefit the victims and families affected by the Boston Marathon bombings.
Firm president and chief executive Alfred Sollami said he didn’t want to project what those revenues might be because the firm has “never done anything quite like this before.”
The firm’s clients are large financial institutions, and these clients now have the opportunity of helping Summer Street’s efforts by trading in larger volumes than usual on April 29, he said.
Summer Street Research Partners employes about 30 people in offices in Boston and New York.
Sollami noted that several New York firms engaged in similar fund-raising efforts after the terrorist attacks of 9/11 in 2001.
Asked what prompted Sollami to take action, he responded, “This happened right in our back yard --- we have many employees and friends who have been directly impacted.”
Plans call for 100 percent of Summer Street’s April 29 trading revenues to go to the One Fund Boston, the fund established by Mayor Thomas M. Menino and Governor Deval Patrick to help people affected by the bombings, and to the Richard Family Fund, which has been set up to help the family of Martin Richard, the 8-year-old Dorchester boy killed in the bombings.