Acquisition Gives Clients Comprehensive Commission Management Solution
NEW YORK, Nov. 2 /PRNewswire/ -- ConvergEx, a leading provider of investment
and execution technology solutions to institutional clients worldwide, today
announced that it has completed its acquisition of the assets of Cogent
Consulting LLC, the industry's leading software development firm specializing
in advanced commission management solutions for institutional money managers
and broker-dealers.
With the addition of Cogent's powerful research evaluation technologies,
ConvergEx now offers a complete suite of neutral, anonymous and transparent
services that encompasses every step of the commission management process from
broker vote to third-party payment.
"We are delighted to welcome all the employees of Cogent to the ConvergEx
family," said Joseph M. Velli, chairman and chief executive officer of
ConvergEx. "Their many talents and industry expertise makes them a natural fit
to ConvergEx, where our purpose is to continually offer innovative solutions
and technologies for an ever-changing financial landscape."
"Since announcing this deal, we have been overwhelmed by the positive feedback
we have received from our clients," said John Meserve, executive managing
director of ConvergEx. "It is clear that this solution fills a significant
need and gives our clients a suite of products that is truly unique in the
marketplace."
Terms of the transaction were not disclosed.
About ConvergEx
BNY ConvergEx Group, LLC provides investment and execution technology
solutions to institutional clients worldwide. The Company provides a full
array of leading technologies and an integrated platform of
performance-driven, global trading capabilities. BNY ConvergEx Group is
comprised of the following businesses: BNY ConvergEx Execution Solutions LLC
(member NYSE/FINRA/SIPC), LiquidPoint, LLC (member CBOE/SIPC); Eze Castle
Transaction Services LLC (member FINRA/SIPC); Westminster Research Associates
LLC (member FINRA/SIPC); G-Trade Services LLC (member FINRA/SIPC); Eze Castle
Software LLC, and ConvergEx Research Solutions LLC, of which Jaywalk and
Cogent Consulting are divisions. Additional information is available at
www.bnyconvergex.com.
SOURCE ConvergEx
Elizabeth Anderson of ConvergEx, +1-212-468-7713, EAnderson@bnyconvergex.com
