NEW YORK, NY — July 13, 2017 — Cowen Inc. (NASDAQ:COWN) (“Cowen” or the “Company”) today announced that Westminster Research Associates was recently named a “Greenwich Quality Leader” in the category of U.S. Equity Commission Management Service & Execution in Greenwich Associates 2017 U.S. Equity Investors’ Study. In addition, Westminster also ranked #1 in “Overall Satisfaction with Client Service” in regards to execution and service performance.  Cowen’s Westminster Research Associates is an industry-leading broker-dealer specializing in providing full-service custodial aggregation solutions and access to an extensive network of independent research to the institutional investment community.

Westminster Research Associates is pleased to be ranked as a market leader for the quality of its commission management service and product offerings as this recognition is testament to our focus to always put our clients’ needs first,” said Chris Tiscornia, CEO of Westminster Research Associates. “We would especially like to thank our clients for this acknowledgement and are committed to remaining a market leader in the research payment and commission management space.”

Founded in 1993, Westminster Research Associates is a broker-dealer that provides a broker-agnostic, anonymous trading framework which allows investment managers to centralize their CSA credit balances and simplify the process of obtaining investment research. Westminster’s structure gives investment managers the flexibility to trade through a network of over 250 brokers coupled with a framework that allows managers to streamline the management of their commissions through one centralized account.  The firm recently introduced Westminster RPA (an offering of Cowen Execution Services Limited) to help its European clients address the MiFID II unbundling requirements.


As part of its 2017 U.S. Equity Investors Study, Greenwich Associates interviewed 315 institutional portfolio managers and 300 institutional traders about the brokers they use for U.S. equities. Study participants were asked to name the brokers they use, to estimate the amount of business done with each firm, and to rate the brokers in a series of product and service categories. Firms that received client ratings that top those of competitors by a statistically significant margin were named Greenwich Quality Leaders℠. More information on Greenwich Associates Quality Leaders’ rankings can be found here.

About Cowen Inc.

Cowen Inc. is a diversified financial services firm and, together with its consolidated subsidiaries, provides alternative asset management, investment banking, research, sales and trading, prime brokerage, global clearing, commission management and plan sponsor services through its two business segments: Cowen Investment Management and its affiliates make up the Company’s alternative investment segment, while Cowen and Company, a member of FINRA and SIPC, and its affiliates make up the Company’s broker-dealer segment. Cowen Investment Management provides alternative asset management solutions to a global client base and manages a significant portion of Cowen’s proprietary capital. Cowen and Company and its affiliates offer industry focused investment banking for growth-oriented companies, domain knowledge-driven research, a sales and trading platform for institutional investors and a comprehensive suite of prime brokerage services. Founded in 1918, the firm is headquartered in New York and has offices worldwide. For additional information, visit


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