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Cowen’s Westminster Research Associates Named “Greenwich Quality Leader” In Greenwich Associate’s 2017 U.S. Equity Investors Study

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
, 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
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

Source: Cowen Inc.

Cowen Inc.
Lynda Caravello, 646-562-1676
Dan Gagnier, 646-569-5897