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

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