Web-Based Software helps buy-side professionals find data.
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Press Release Summary:
Combining alpha capture system, media sentiment engine, and meeting management tool, The Community v3.0 connects buy-side professionals with people and data most likely to add value to investment process. Program consolidates and analyzes unstructured data, ensuring that professionals stay informed about tickers of interest. At push of button, users can go from being alerted to and reading article posted on obscure Web site to having conversation with broker or independent research provider.
Original Press Release:
First Coverage Launches Version 3.0, 'The Community'
'Enhanced Platform Makes Investors Smarter, Safer, More Efficient'
BOSTON, Jan. 21 / -- First Coverage Inc., a leading provider of financial information management solutions, today announced the release of The Community, Version 3.0 of its web-based platform, which combines the features and functionality of an alpha capture system, a media sentiment engine and a meeting management tool.
The Community is designed to enhance productivity, to ensure important information isn't overlooked, and to instantly connect buy-side professionals with the people and data most likely to add value to their investment process.
"Today, there are more sources of data at institutional investors' finger tips than ever before. Clearly, this is making it near impossible to stay fully informed," says Randy Cass, First Coverage CEO. "Sifting through the data, making sense of it all, and deciding how to act upon it, is an incredibly challenging endeavor regardless of market conditions. We're delighted to launch The Community, to help the buy-side better understand who and what are out there and to be better equipped to find and focus on what's important to them."
Instead of just aggregating information, The Community consolidates and analyzes traditionally unstructured data -- tens of thousands of trade ideas per month, and thousands of articles from mainstream news, industry blogs, research and other communications weekly -- all to ensure that investment professionals are able to stay informed about the tickers of interest to them.
At the push of a button, users of The Community can go directly from being alerted to and reading an article posted on an obscure Web site to having a conversation with a broker or independent research provider, who has an opinion about a company mentioned in that story.
The Community presents a more robust, holistic perspective of the market at industry, sector and ticker levels through the delivery of highly selective data in real-time.
"First Coverage represents the evolution of First Call and StreetEvents. The Community provides actionable, high-quality aggregated information presented in the most usable format yet -- with the goal of helping investment professionals be smarter, safer and more efficient," says Jeff Parker, Chairman of First Coverage, former Chairman and CEO of CCBN, and founder of First Call, StreetEvents and Technical Data Corporation.
Aggregating information all in one place allows First Coverage to provide industry and sector level sentiment ratings based on up-to-the-minute data derived from changes and shifts in financial news, blogs, and aggregated sell-side communications to buy-side clients, which can be more dynamic and predictive than traditional research reports.
Data submitted by the sell-side to The Community as well as media content are also available in multiple formats, including SOAP, XML, tab delimited and Excel, which integrate seamlessly with backend systems.
First Coverage showed tremendous signs of growth in 2008. During the last year, data through the system grew by more than 400 percent. In the fall, the firm announced the expansion of its sales and marketing team in addition to the signing of its 50th investment management client, London-based GSA Capital. In June, First Coverage released Version 2.0 of its platform with new features, including expanded international coverage, enhanced portfolio reporting tools, internal idea tracking, and integrated corporate meeting functionality. In May, First Coverage completed a Series B round of financing that rose US $9M.
About First Coverage Inc.
Established in 2006 by the founders of First Call and StreetEvents, First Coverage provides a web-based technology, "The Community," which was developed in collaboration with both the buy-side and sell-side to help money managers more efficiently generate alpha by eliminating the "noise" that they encounter on a daily basis, allowing them to focus on the people and information that matter most to their holdings. The firm's clients comprise large money managers, including Top Ten firms, hedge funds and pension plans, which direct trillions of dollars in assets under management and have access to sentiment analyses of "The Street" and the media as well as the highest-conviction, actionable recommendations submitted to "The Community" by thousands of sell-side participants, who consistently have outperformed the benchmarks. For more information, visit www.FirstCoverage.com.
