NEW YORK, May 1, 2014 /PRNewswire/ -- ConvergEx Group, a leading provider of global brokerage and trading-related services, today announced that its LiquidPoint options technology business has completed a software integration with Actant, a leading provider of high performance automated derivatives trading solutions. Actant's liquidity providers can now access LiquidPoint's NXP ATS and its unique and diverse mix of order flow directly through Actant's software, without the fixed costs associated with market-making at a traditional exchange.
NXP, an SEC-registered alternative trading system for U.S. listed options, sources liquidity by aggregating LiquidPoint's extensive order flow and network of liquidity providers, leveraging the firm's long history of providing price improvement opportunities within a secure and anonymous venue. All trades are executed on listed exchanges and centrally cleared through the Options Clearing Corporation (OCC).
"As liquidity from lit markets continues to fragment, finding additional sources has never been more important," said Anthony J. Saliba, CEO of LiquidPoint. "Actant software is already on desktops as a widely-used industry standard. We're pleased to make LiquidPoint part of a turnkey solution to provide access to unique order flow in an efficient, cost effective manner."
ConvergEx's LiquidPoint offers flexible, customizable and comprehensive solutions, specifically designed to meet the diverse needs of institutional options traders.
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 several other key locations including London, Chicago, San Francisco, Boston and Atlanta, 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. ConvergEx Group, LLC is a subsidiary of ConvergEx Holdings, LLC. Additional information is available at www.convergex.com.
About Actant Inc
Actant is a leading provider of automated solutions for financial firms trading on the world's major options, futures and stock exchanges. Leveraging nearly 20 years experience, Actant delivers unequalled programming flexibility and control to proprietary trading firms, market making firms, investment banks and hedge funds. Designed for both exchange members and non-members, Actant software is fully customisable and scalable to meet individual strategy, connectivity, deployment and integration needs. For more information, contact us at firstname.lastname@example.org or visit www.actant.com.
SOURCE ConvergEx Group