ConvergEx Group Sees Significant Growth in International Execution Business
NEW YORK, Sept. 11, 2013 /PRNewswire/ -- ConvergEx Group, a leading provider of global brokerage and trading-related services, today announced that its international execution business has grown by more than 25% year-over-year. By offering a truly unified high- and low-touch global desk, clients have been able to realize the full benefits of the company's highly efficient service model and cutting-edge products – and the business has grown accordingly.
"We have invested a large amount of capital in our products in a time when others are contracting their businesses," said William Capuzzi, managing director, Global Execution. "We have found that both new and existing clients have been very pleased with our offerings and have continued to increase their business with ConvergEx as they see how our client-first approach helps them achieve their goals."
"For example, the usage of our most popular liquidity-seeking international algorithms, AbraxasSM and Darkest, are up nearly 400% year-over-year," added Pamela Cheng, vice president and global product manager, Global Execution. "We attribute this growth to the quantifiable execution improvement and amount of liquidity captured that clients obtain when they trade with us."
ConvergEx gives its clients a single point of coverage for global electronic, worked orders and program trading. The hybrid desk is run in a virtual capacity out of a number of different locations that follow the sun for seamless round-the-clock coverage. For clients trading in the less liquid emerging and frontier markets, ConvergEx is able to use its years of experience and in-depth local knowledge to enhance the sourcing of local liquidity.
In addition, ConvergEx has leveraged its expertise in international markets to increase its international institutional clearing capabilities. The company plans to roll out more clearing capabilities in the coming quarters.
"Our all-encompassing coverage model, along with our award-winning liquidity-seeking tools, offer clients a highly consultative service and tangible results that they simply cannot get anywhere else," concluded Mr. Capuzzi.
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 15 key locations, 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.
Contact: Elizabeth Anderson
SOURCE ConvergEx Group