Cogent Announces Pending Acquisition 

A consortium of leading global institutional broker-dealers have signed a non-binding letter of intent to acquire a majority stake in the company, with definitive documents scheduled to be concluded this summer.
 
Cogent will continue to operate as a stand-alone, third-party provider of services to both buy- and sell-side firms, specializing in all aspects of commission management.  Cogent’s management will remain in place, and the only staffing changes in Cogent will be the addition of more team members over the next few months.  Robin Hodgkins will continue as Cogent’s President and CEO, and will maintain a minority stake in the firm. No single owner will own a majority stake in Cogent.
 
Cogent’s CSA Trak BD “Cloud” system will be a standardized industry platform for clients to access their CSA broker information in one consolidated portal, streamlining operations, reducing staffing requirements,  improving payment processing, and viewing broker credits on a virtually aggregated basis.  The system is completely multi-client, multi-broker, multi-vendor, and multi-currency.  Already operational on a global basis, the “Cloud” is the standard access point for more and more buy-side firms as they look to manage CSA and CCA credits with all of their counter-parties.
 
Cogent will not change any of its basic tenets: to provide the highest quality commission management solutions to the buy- and sell-side, to aggressively maintain the confidentiality of all client data, to be responsive to client and other stakeholder needs, operate profitably, and to be employee focused.