ITG teams with Cogent to offer commission management tools
16 May 2007 | 1399 views | 0
Source: Investment Technology Group
Investment Technology Group (NYSE: ITG), and Cogent Consulting LLC today announced a partnership that provides ITG's clients with access to Cogent's industry leading suite of broker review and commission management products.
"This is another step towards providing a comprehensive suite of broker measurement tools that will complement our transaction cost analysis (TCA) and commission management suite of products," said Ian Domowitz, Managing Director at ITG. "This enhanced offering provides ITG's clients with tools to analyze, document and manage all aspects of commission spending and broker management, as well as to further improve internal productivity and transparency for clients and regulators."
"Cogent's market leading ResearchTrak, BrokerTrak, and CommTrak are already being used by institutions, which collectively manage more than $3 trillion in assets, to assess the value of research from brokerage firms and third parties, decide commission allocations, and analyze commission spending, in accordance with SEC and FSA regulations," said Robin Hodgkins, President and CEO of Cogent.
ITG clients will be able to access Cogent products in conjunction with ITG products such as ITG TCA and ITG Logic. Using these products, ITG clients will have access to a complete set of tools for evaluating execution quality and broker research. ITG and Cogent plan to offer this co-branded service in the third quarter of 2007.