First Coverage, a web-based software company delivering industry-leading coverage optimization solutions to the investment community, today announced that it has significantly expanded the depth of information available to participants through the inclusion of quote feeds from almost every major and secondary global exchange.
The expanded coverage provides portfolio managers the ability to gather a complete set of diversified information from disparate market centers across the world. For the first time ever, portfolio managers can now organize, evaluate and rank the full breadth of investment ideas, research and market information available to them worldwide, all from a single location.
"One of the most difficult challenges today's portfolio manager faces is the sheer mass of information being forced upon them," said Randy Cass, CEO of First Coverage. "As borders break down and the global investment community becomes ever more interconnected, the amount of data, research and ideas out there is only increasing, making the task of managing and evaluating that data even more daunting. What First Coverage does is help the portfolio manager deal with all this information in a much more efficient way, ultimately leading to greater productivity and higher performance."
The First Coverage platform provides portfolio managers, fund managers and other buy-side investment professionals a highly intuitive and innovative web application allowing them to effortlessly evaluate, according to their own customized criteria, every current and potential relationship they maintain with the sell side around the world. The resulting analysis prevents continued Alpha Erosion, delivers proven higher returns for the buy-side and their investors, provides clarity in assessing the value generated by institutional salespeople, and brings accountability to the commission allocation process.
Over the past year, the amount of trade and market information communicated through the First Coverage platform increased by more than 500 percent. Last summer, First Coverage revealed that the average return of trade ideas passed through its system over a 6-month period had exceeded market indices by more than 300 basis points. First Coverage is utilized by more than 1,000 investment professionals worldwide managinggging over a combined $1.5 trillion in assets.