Most Read
- Merrill Lynch Speeds Up Application Development
- Buy Side Seeks Independent Valuation Providers for OTC Derivatives After Credit Crisis
- Getting That Single Version of the Truth on Wall Street
- SR Labs Unveils Low Latency OMS with Market Data
- The OMS Dilemma: Speed vs. Intelligence
- Is Wall Street Ready for the iPhone?
- Securities Industry Wins Right to Paperless Trade Confirms
- Financial Institutions Evaluate Biometrics
First Coverage Adds Quote Feeds to Help Buy-Side Assess Sell Side Trade Ideas
Toronto-based First Coverage is adding real-time quote feeds from global exchanges to its Web-based software, allowing the buy-side to further quantify the value of trading ideas and other research they are getting from the sell-side.
First Coverage has expanded the depth of information available through the system to include quote feeds from almost every major and secondary global exchange, according to yesterday’s announcement. The expansion in information allows portfolio managers to manage, track and evaluate all market information being sent to them by the sales coverage regardless of the security involved or the exchange it is traded upon, the spokesman says.
"When a sell-side salesperson sends an idea or recommendation to the buy side via First Coverage, the platform is now able to immediately stamp the idea with a real-time price in order to track the performance of each idea or recommendation in real time over any time period," says a spokesman. "As more information is being sent, the portfolio manager is able to build up a rich profile on who can add value in any particular stock, whether it be by market cap, time horizon, sector or now, geography,"adds the spokesman.
In a statement,Randy Cass, CEO of First Coverage, said, “One of the most difficult challenges today’s portfolio manager faces is the sheer mass of information being forced upon them.“ “As borders break down and the global investment community becomes every 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,” added Cass in the release.
The analysis leads to higher returns for the buy side and their investors and more accountability in the commission allocation process, as well as greater clarify in assessing the value of sell-side institutional sales force, according to the company
The platform allows portfolio managers, fund managers and other investment professionals with a Web application to evaluate every current and potential relationship they maintain with the sell-side around the world according to their own customized criteria. Over the past year, the amount of information communicated through the platform increased by more than 500 percent. Last June, First Coverage reported that the average return of trade ideas passed through its system over a six-month period (Q4 2006 through Q1 2007) exceeded market indices by more than 300 basis points.
Posted by Ivy Schmerken at 02:46 PM
This is a public forum. CMP Media and its affiliates are not responsible for and do not control what is posted herein. CMP Media makes no warranties or guarantees concerning any advice dispensed by its staff members or readers.
Community standards in this comment area do not permit hate language, excessive profanity, or other patently offensive language. Please be aware that all information posted to this comment area becomes the property of CMP Media LLC and may be edited and republished in print or electronic format as outlined in CMP Media's Terms of Service.
Important Note: This comment area is NOT intended for commercial messages or solicitations of business.
Greg MacSweeny Columns
Greg MacSweeneyOverbearing Market Reform Will Only Slow Market Innovation
As investors call for extensive regulatory oversight of certain derivatives, regulators mu...
What You Don’t Know Will Hurt You
Larry Tabb Columns
Larry TabbOpportunities Beckon Amid Economic Turmoil
A shaky economy and the defibrillation of many fixed-income products provide fertile groun...
NYSE TransactTools May Be NYSE Euronext’s Most Important Asset
CHECK THIS OUTElectronic Trading Resource CenterAs markets move faster and trading in all types of investment classes continues to migrate to electronic trading, the technology that supports trading strategies is evolving at a rapid pace. Reducing latency and building systems that can match orders in hundredths of a second will be required if firms want to continue to compete in many markets. |
EventsLive Events:Buy-Side Trading Xchange June 04, 2008 Buy-Side Trading Summit 2008 November 16-18, 2008 Web Events: 2008 Market Mandates and Web 2.0 for Investment Management Online Client Applications May 14, 2008 2008 Market Mandates and Rich Internet Application Trending for Online Business Banking Channels 2008 May 20, 2008 How Can Financial Firms Build a Better Data Center? May 29, 2008 Market Trends 2008 and Rich Internet Applications: Online Channels Retirement and Benefits Service Portals June 03, 2008 Market Trends 2008 - Rich Internet Applications: Next Generation Online Financial Portals in Financial Services June 04, 2008 Straight Talk About Low-Latency: The Value of a Millisecond June 19, 2008 |
White PapersSurviving and Thriving in a Challenging MarketLearn how financial services firms can use customer-centric strategies and tools to maximize client value and loyalty, gain insight into new opportunities, and do more with less, counteracting market volatility. |
Marketplace |
Career CenterReady to take that job and shove it?
|
Most Recent Job Posts:
* Tower Hill insurance Group, Inc. seeking Programmer in Gainesville, FL
* CAST Software, Inc. seeking Senior Pre-Sales Engineer in Chicago, IL * Broadcom seeking Principal Software Engineer in Irvine, CA * ITT Corporation seeking Senior Program Manager in Fort Wayne, IN * Tower Hill insurance Group seeking Help Desk Director/AVP in Gainesville, FL For more tech jobs in the industry, visit Wall Street & Technology's Career Portal. |


