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ConvergEx Group rolls out cogent hedge trak software for hedge funds prepping SEC registration

Monday, February 07, 2011

John Meserve
Opalesque Industry Update: ConvergEx Group announced that its Cogent Consulting division has released the new Hedge Trak broker review software for hedge funds preparing to register with the Securities and Exchange Commission (SEC) on or before July 21, 2011.

After registration with the SEC, best practice calls for hedge funds to document the process and criteria they use to determine payments for research they receive from brokers and independent research providers. A web‐based software, Hedge Trak allows hedge funds to design and run robust broker reviews on a completely self‐administered basis.

“Broker reviews are a critical part of the research procurement and payment process,” said John Meserve, chief executive officer of ConvergEx Research Solutions. “Hedge Trak gives firms the tools needed to manage reviews in a simple, secure, auditable and historically accurate manner without the operational risk associated with Excel or other manual processes.”

“Hedge Trak builds on Cogent's expertise in developing broker review systems for some of the largest hedge funds and long‐only firms in the world,” said Robin Hodgkins, president of ConvergEx’s Cogent Consulting. “Hedge Trak helps hedge funds deliver a complete picture of the value of their research providers to portfolio managers and analysts and can also be used by traders and back‐office personnel to manage their broker list.”

ConvergEx offers a complete suite of neutral, anonymous and transparent commission management services that encompasses every step of the commission management process from broker vote to third‐party payment. www.convergex.com

bc

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