ConvergEx Group's Westminster Research Associates Releases New Commission Management Platform

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Oct 21, 2014, 08:02 ET

NEW YORK, Oct. 21, 2014 /PRNewswire/ -- ConvergEx Group, a leading provider of global brokerage and trading-related services, today announced that Westminster Research Associates has released a new Commission Management Platform with enhanced navigation, usability and design features.

"We are pleased to provide our clients with a powerful new web-based solution to manage their CSA business," said Dan Sheehan, head of operations for Westminster. "Many of the features incorporated into our new offering have been driven by client demand and the need to have more robust workflow controls in place."

In addition to improving the look, feel and overall ease of use of Westminster's patented CSA platform, a number of important workflow and efficiency improvements have been added including:

Streamlined CSA 'click to pay' functionality;
Additional approval queues, allowing clients to create multi-step authorization processes within their own workflow;
Easy upload and transmission of invoice and broker vote files to Westminster; and
Improvements to statements, account snapshots, invoice approval and trade detail queues.

To complement these client facing enhancements, upgrades were also made to Westminster's internal supporting applications including faster servers and innovative workflow tools. When combined, these front and back office enhancements will improve Westminster's industry leading offering and further establish Westminster's comprehensive commission management solution as the benchmark against which others are measured.

"As the use of CSAs and CCAs continues to grow, the need to expand our on-line CSA management capabilities has become paramount," said Tim O'Halloran, co-president of Westminster. "Our clients rely on Westminster for timely access to their research and trading data, as well as for the service, expertise and experience of our team. With research and execution becoming more unbundled, a comprehensive commission management solution has become integral to the investment management community."

Westminster Research Associates is a single purpose broker-dealer, founded in 1993, that provides an agnostic, anonymous trading framework which allows money managers to execute through a network of over 230 broker dealers to acquire research from virtually anywhere. Through Westminster Research, ConvergEx offers its customers access to a comprehensive suite of trading strategies – including global algorithms, crossing networks, DMA platforms, full-service and agency trading desks – in over 100 markets worldwide.

About ConvergEx Group
ConvergEx Group is a leading provider of global brokerage and trading-related services. Its companies provide products and services in the following areas: global execution and clearing, commission management, independent research, commission recapture, options technologies, prime services and outsourced connectivity. ConvergEx Group companies do not engage in market making or investment banking, but may operate in a riskless principal and/or net trading capacity as well as in an agency capacity. In connection with certain ETF transactions requested by clients, ConvergEx Execution Solutions may act as a principal or engage in hedging strategies in connection with such transactions.

In the U.S., ConvergEx Group is comprised of ConvergEx Execution Solutions LLC (member NYSE/FINRA/SIPC), of which ConvergEx Prime Services is a division; LiquidPoint, LLC (member CBOE/SIPC); G-Trade Services LLC (member FINRA/SIPC); Westminster Research Associates LLC (member FINRA/SIPC); and ConvergEx Solutions LLC, of which ConnEx, Jaywalk and LDB are divisions. ConvergEx Group, LLC is a subsidiary of ConvergEx Holdings, LLC. Additional information is available at www.convergex.com.

Contact: Michael Kingsley
[email protected]
212.468.7713

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SOURCE ConvergEx Group