ConvergEx Receives Patent for Commission Management Technology from the U.S. Patent and Trademark Office

New York - 4 August 2010

ConvergEx Group, a leading technology company, today announced that the United States Patent and Trademark Office has issued United States Patent Number 7,769,658 to the company for a Commission Management System.

The patent covers the proprietary technology and methodology for a commission management platform that enables users to pool and manage their commission dollars from multiple executing brokers, including allowing those users to review, approve and authorize payment of its research invoices using those pooled commissions.

“This patent approval is a major milestone in ConvergEx’s commitment to provide innovative commission management technologies to give our clients a full‐service solution that is truly unique in the marketplace,” said John Meserve, executive managing director and head of the commission management business at ConvergEx Group. “Combining a state-of the-art processing utility and our proprietary methodology, our solution offers a complete suite of workflow integration and processing tools for Commission Sharing Arrangements (CSAs), Client Commission Arrangements (CCAs) and third-party research payments.”

As one of the industry’s leading providers of commission management solutions, ConvergEx provides a complete suite of neutral, anonymous and transparent services that encompasses every step of the commission management process from broker vote to third‐party payment.

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