Cowen’s comprehensive ETF capabilities include analytics, a suite of proprietary execution tools and the award-winning* ETF Direct®. Cowen is an Authorized Participant for major ETF fund families and a premier source of ETF liquidity.

­Dedicated execution desk specializes in finding liquidity in thinly traded ETFs

  • Anonymous execution
  • Proprietary pricing engine and advanced execution tools
  • Real-time transaction/market impact analysis
  • Authorized Participant for ETF creation and redemption

ETF Direct

Cowen’s award-winning ETF Direct platform streamlines the process for accessing quotes from multiple liquidity providers

Features & Benefits

Anonymity:  The entire RFQ process is anonymous to all participants

Liquidity: ETF Direct gives clients the ability to source multiple quotes in all US listed ETFs and provides access to block size liquidity

Transparency: The agency-based execution model has no hidden fees or rebates

Audit Trail: ETF Direct offers detailed audit trail to assist in fulfilling best execution obligations & reporting requirements

As industry standards for best execution continue to evolve, ETF Direct provides price discovery by sourcing multiple liquidity providers


ETF Direct Platform

*Best OTC Trading Initiative
2015 American Financial Technology Awards

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Americas:  212.468.7670
Europe:  +44.20.7070.0150