ConvergEx Group's LiquidPoint Offers Bespoke Solution for New Electronic Blue Sheet Reporting Requirements
NEW YORK, May 1, 2013 /PRNewswire/ -- ConvergEx Group, a leading provider of global brokerage and trading-related services, today announced that LiquidPoint customers will be able to meet the new Electronic Blue Sheet (EBS) reporting mandate when the SEC / FINRA rule goes into effect on November 1, 2013. The new regulations require brokers to include Large Trader IDs and also to be able to provide time stamps for every execution report when submitting securities transaction information to financial regulators.
Using functionality available through LiquidPoint, ConvergEx's options technology business, customers can seamlessly capture the necessary data. LiquidPoint already stores the required execution information, including every order update received via Exchange FIX messaging and a time stamp to the millisecond upon receipt. LiquidPoint also supports input fields for Large Trader IDs or other proprietary identifiers. This data is available for both electronic trades as well as manual orders executed on exchange floors via LiquidPoint's BrokerPoint.
"Many of our clients have expressed concern regarding their ability to meet these new requirements," said Anthony Saliba, chief executive officer of ConvergEx's LiquidPoint. "However, at LiquidPoint, we have always taken a prudent approach towards compliance reporting and have architected our products to be flexible and prepared for new requirements as they arise. As always, we remain committed to proactively offering solutions for industry-wide issues such as this."
This data is available to clients on demand for their EBS reporting, and many of LiquidPoint's clients already receive the execution data daily by various means.
LiquidPoint offers flexible, customizable and comprehensive solutions, specifically designed to meet the diverse needs of institutional options traders. Combining sophisticated electronic trading tools with superior order execution services and outstanding customer support, LiquidPoint provides a complete platform to help maximize options execution efficiency while seeking to improve performance and overall 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