ConvergEx Announces Winners of Jaywalk Independent Research Provider Performance Awards for First Quarter 2010

NEW YORK, May 3 /PRNewswire/ -- ConvergEx Group, a leading provider of investment technologies and execution solutions to institutional clients worldwide, today announced the results of its Jaywalk Independent Research Provider Performance Awards for the first quarter of 2010.  This program seeks to recognize Jaywalk's Independent Research Providers (IRPs) for their exceptional research recommendations. 

"As one of the largest providers of independent research, Jaywalk continues to add tremendous value with unmatched and unbiased views of the issues affecting today's market," said John Meserve, chief executive officer of ConvergEx Research Solutions.  "These outstanding IRPs represent a cross-section of methodologies, geographies, industries and sectors and are some of the top investment research companies in the industry."  

Performance statistics were calculated by Abacus Analytics using data from January 2010 through the end of March 2010. Abacus' metrics focus on the degree to which an IRP's equal-weighted portfolio of Buy/Positive ratings outperformed their equal-weighted portfolio of Sell/Negative ratings.

About the Awards

Best Bullish Calls identifies IRPs whose buy calls most outperformed their coverage, scaled by their aggressiveness in making bullish recommendations.

Asset Analysis Focus

Asset Analysis Focus (AAF) looks at a corporation and its asset base in the same manner an acquisition-minded business executive would. Asset Analysis Focus seeks possible investment opportunities across the market capitalization spectrum and within a diverse range of industries. A large number of the companies featured in AAF are not widely followed by Wall Street.

Columbine Capital Services

Columbine Capital Services conducts historical studies to identify the fundamental measures that have the greatest impact on a company's future market performance.  Columbine evaluates each company's current status on the appropriate criteria and ranks it relative to its peer group.  A sector specific analytical framework defines how much importance is placed on each component in assessing the company's return potential.

Best Bearish Calls identifies IRPs whose sell calls most underperformed their coverage, scaled by their aggressiveness in making bearish recommendations.

Green Street Advisors

Green Street Advisors has been a primary source of independent research on REITs and other real estate operating companies.  The firm's analysts use fundamental research techniques, including property visits, "comparable sales" real estate transaction data, income statement and balance sheet analysis, and discussions with management and competitors to form company-specific investment opinions.

Quantitative Research Group

Quantitative Research Group builds and distributes global factors that are based on alpha capture and trade ideas, earnings forecast and momentum, and intrinsic value analysis.  The firm's solutions include disciplined application of its factors as components in clients' equity products as well as customized turnkey portfolios for LargeCap, SmallCap and other strategies.

Best Overall Performance

ACI Research

ACI Research provides original research and insights on the global telecom ecosystem to institutional investors and industry executives. Its Telecom Cycle Research identifies major trends before they can obtain evidence from other industry or financial analysts. ACI was the first to track telecom system and component vendors as an ecosystem.

Columbine Capital Services

See above

Note: The first listed winner of the Best Bullish, Best Bearish and Best Overall Performance awards is an IRP covering more than 1,000 names. The second listed winner is an IRP covering fewer than 1,000 names. 

Director's Choice Award is to acknowledge forward-thinking excellence in the overall business strategy of a particular IRP. The business strategies of the IRPs were evaluated in a recent survey conducted by Jaywalk.  As adaptation is critical to success in this rapidly changing industry, the recipient of this award has invested in new initiatives to increase the scope of its offerings and the appeal of its products to the demanding institutional investor community.

ValuEngine Research

ValuEngine Research is a stock valuation and forecasting service that utilizes advanced quantitative techniques and analysis. ValuEngine provides recommendations, fair market valuations and target prices on nearly 4,000 stocks daily.

Abacus Analytics

ConvergEx would also like to recognize our partner Abacus Analytics for all of their help in tracking the performance of our participating Independent Research Firms.  Without their continued hard work and detailed analytics these awards would not be possible.

Abacus Analytics is a quantitative consulting firm serving the brokerage and investment management communities. The firm's research and consulting services are organized around the portfolio management process, and include models and analytics for alpha generation, risk management, portfolio construction and performance attribution.

Abacus also provides sophisticated analyst evaluation systems for several leading securities firms. Using quantitative techniques to evaluate forecasting skill, Abacus helps research managers monetize their product and deliver greater value to their client-base. The firm also develops trading strategies around analyst signals and works with trading desks to implement risk controlled, value added quantitative strategies. 

ConvergEx is a leading financial technology company that provides investment technologies and execution solutions in over 100 global markets.  The combination of its sophisticated proprietary technologies and vast global markets expertise enables the firm to present a unique offering in an evolving, competitive marketplace.  Its 6,000 institutional clients include many of the world's most prominent asset managers, hedge funds, corporations, plan sponsors, broker-dealers and financial intermediaries. Formed in 2006, the firm has over 1,000 employees in 22 locations throughout the U.S., Europe, Asia, Australia and Africa.

BNY ConvergEx Group, LLC 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); NorthPoint Trading Partners, 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.convergex.com.

SOURCE ConvergEx Group