Convergex offers a broad suite of algorithms that provide both buy-side and sell-side traders with greater control over trade execution in global markets. They are designed to increase flexibility while addressing cost, timing, performance, transparency and market structure. Below is an overview of three of Convergex's featured algorithms:
The Darkest algorithm is designed to dynamically source liquidity from over 20 non-displayed ATSs while maintaining anonymity. Darkest's proprietary methodology monitors liquidity conditions on an ongoing basis and adjusts its attributes to take advantage of the liquidity opportunities that are available.
Small Cap Algorithm
Convergex's Small Cap algorithm is designed to maximize liquidity in less liquid names while simultaneously minimizing market impact. The Small Cap algo rests completely hidden in over 15 ATSs, yet will exit the market when it senses that it is signaling its presence in the market place. The algorithm will then return to the market when it determines that it is advisable to re-engage. Meanwhile, block executions are continuously analyzed for the potential execution of conditional orders.
Abraxas dynamically balances orders among the most desirable global market venues, efficiently accessing numerous sources of displayed and non-displayed liquidity while seeking to minimize information leakage.
Convergex is an agency-focused global brokerage and trading related services provider that takes on the industry's toughest challenges, from complicated trades to complex businesses. With clients' interests as the top priority, Convergex delivers comprehensive solutions that span global high-touch and electronic trading, options technologies, prime brokerage, clearing, commission management and beyond. Headquartered in New York with a presence in several other locations including Atlanta, Boston, Chicago, Orlando, San Francisco and London, the company serves nearly 3,000 clients accessing over 100 global market centers.
Convergex is an agency-focused global brokerage and trading related services provider. In the U.S., Convergex offers products and services through Convergex Execution Solutions LLC (member NYSE/FINRA/NFA/SIPC), of which Convergex Prime Services and Options Trading and Technology are divisions; Westminster Research Associates LLC (member FINRA/SIPC); and Convergex Solutions LLC, of which Jaywalk and LDB are divisions. In London, Convergex operates through Convergex Limited, which is incorporated in England and Wales (registered with company number 06262150). Convergex Limited is authorized and regulated by the Financial Conduct Authority (FCA) of the United Kingdom. Westminster Research Associates LLC is regulated in the United States by the U.S. Securities and Exchange Commission. Westminster provides services in Australia pursuant to an exemption from the requirement to hold an Australian financial services license under the Corporations Act 2001 (ASIC Class Order [CO 03/1100]).
Convergex provides brokerage services primarily on an agency basis, but may operate in a riskless principal and/or net trading capacity, and in connection with certain ETF or ADR transactions, may act as principal or engage in hedging strategies. Convergex does not engage in market making or investment banking activities.
The material, data and information (collectively "Convergex Information") that is available from Convergex is intended for institutional investor use only; is for informational purposes only; is subject to change at any time; is not intended to provide tax, legal or investment advice; and does not constitute a solicitation or offer to purchase or sell securities. Convergex Information is believed to be reliable, but Convergex does not warrant its completeness or accuracy and Convergex assumes no duty to update such information. Clients should read their account agreement(s) and documentation with Convergex carefully as those documents contain important information and disclosures about the products or services covered thereby. Convergex is not responsible for third-party information or services, including market data from the exchanges. (Rev. 01/03/17)
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Contact: Lynda Caravello
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