ConvergEx Group Provides Comprehensive Real-Time Trade Transparency via PerformEx Offers New Industry Standard Ahead of Potential Regulatory Changes
NEW YORK, April 11, 2013 /PRNewswire/ -- ConvergEx Group, a leading provider of global brokerage and trading-related services, today announced that PerformExSM, its transaction cost analysis product, now gives customers dozens of new tools to view and analyze every aspect of a trade's life cycle as it happens. With the new features, PerformEx now offers as many order details as a trader could ever want or need – all in real time.
"Real-time trading transparency is key to driving trading performance," said Craig Lax, chief executive officer of G-Trade, ConvergEx's global electronic execution business. "There are important differences between the exchanges and the various order types used to access them. Market impact, footprints and information leakage differ from destination to destination. Fill rates differ as well. Knowing exactly where and how successfully orders are being routed allows our customers to make immediate decisions to improve their execution performance."
With these new transparency features, traders can now dynamically view:
- Details by multiple destination routes
- Shares sent, filled and unfilled by route
- Percentage of orders sent to each route
- Executions by each price point in the market
- View destinations by total
- See how orders are performing from start to finish – by sector and index
- Heat maps of every child order
- Complete order charting, including volume participation rate
- Tree maps provide a visual representation of the size and number of orders routed by venue, as well as the shares filled by venue
"As the use of order types continue to grow and more execution venues enter the marketplace, traders need to be able to analyze the details of their trades as soon as they happen," said Scott Daspin, managing director in the global electronic execution group at ConvergEx. "At ConvergEx, we've done the research and developed innovative solutions to provide customers with a comprehensive picture that they can translate into better results."
About ConvergEx Group
ConvergEx Group is a leading provider of global brokerage and trading-related services for institutional investors and financial intermediaries. ConvergEx combines client-first service with innovative products, sophisticated strategies and proprietary technology to meet the challenges of increasingly dynamic and fast-paced markets. Headquartered in New York with a presence in 17 key locations worldwide, the company serves more than 3,000 clients accessing over 100 global market centers.
ConvergEx Group includes ConvergEx Execution Solutions LLC (member NYSE/FINRA/SIPC); LiquidPoint, LLC (member CBOE/SIPC); G-Trade Services LLC (member FINRA/SIPC); Westminster Research Associates LLC (member FINRA/SIPC); ConvergEx Prime Services LLC (member FINRA/SIPC); ConvergEx Solutions LLC, of which ConnEx, Jaywalk and LDB are divisions; and ConvergEx Limited in the UK and Australia. ConvergEx Group, LLC is a subsidiary of ConvergEx Holdings, LLC. Additional information is available at www.convergex.com.
SOURCE ConvergEx Group