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Don Rice founded Rice Financial Products Company in 1993 as a municipal derivative products boutique. In 1998, the firm made its foray into the municipal bond business with the acquisition of Apex Securities Inc., subsequently acquiring Pryor, Counts & Co.’s municipal finance business in 1999. Until 2006, Rice Financial’s broker-dealer operated independently, co-managing transactions and serving primarily to support Rice’s derivative products business. Today, Rice Financial Products Company comprises a parent company, Rice Derivative Holdings, LP, with several wholly-owned subsidiaries, including a broker-dealer (Rice Securities LLC). Rice Derivative Holdings is fully owned by Don Rice, CEO and founder.