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First Coverage Inc. (www.firstcoverage.com), a web-based software company delivering industry-leading coverage optimization solutions to the global investment community, today announced that Soleil Securities Group, a leading provider of independent equities research, has signed on as the 200th sell-side participant in First Coverage’s rapidly growing network of buy- and sell-side firms.
“By joining First Coverage, we are responding to an expressed desire from our buy-side clients to streamline the way in which we present them with research, ideas and other services,” said Ken Dengler, Chief Operating Officer at Soleil Securities Group. “First Coverage provides us an extremely valuable tool to communicate more efficiently with the buy-side and provides a powerful mechanism to back-up our ideas and research with real-world results. Through First Coverage, we are able to more clearly communicate the value we can add as an alternative research provider, enabling us to not only maintain but also grow our existing relationships with buy-side customers.”
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. 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.
“We are thrilled to welcome Soleil Securities Group as our 200th sell-side participant and are encouraged by the extraordinarily rapid take-up of the First Coverage offering amongst buy and sell-side firms alike,” said First Coverage CEO Randy Cass. “As the number of participants grows, the value of the platform to the communities it serves is strengthened significantly. Our goal of providing a tool to find ‘Alpha’ to the buy-side while also delivering a higher standard of accountability and transparency to both sides of the marketplace is clearly gaining an incredibly receptive and highly participatory audience.”
