ConvergEx receives second commission management patent
ConvergEx Group, a leading provider of global brokerage and trading-related services, today announced that the United States Patent and Trademark Office has issued its second United States Patent related to the company's Commission Management System.
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ConvergEx was issued U.S. Patent No. 8,433,629 which protects ConvergEx's proprietary technology and methodology for a commission management platform enabling users to pool and manage their commission dollars from multiple executing brokers. This includes allowing those users to review and approve payment of their research invoices using pooled commissions. ConvergEx was previously issued U.S. Patent No. 7,769,658 on August 3, 2010.
"This patent is another example of ConvergEx's continued commitment to providing our clients with best-of-breed commission management tools. These software solutions are designed to simplify and streamline our clients' daily workflow," said John Meserve, executive managing director and head of the commission management business at ConvergEx Group. "Our proprietary commission management technologies make monitoring Commission Sharing Arrangements (CSAs), Client Commission Arrangements (CCAs) and third-party research payments straight forward and easy."
One of the industry's leading providers of commission management solutions, ConvergEx Group provides a complete suite of neutral, anonymous and transparent services that encompasses every step of the commission management process.