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ConvergEx's LiquidPoint Announces Record Monthly Contract Volume and YTD Crossing Figures
NEW YORK and CHICAGO, Nov. 6 /PRNewswire/ -- ConvergEx, a leading provider of investment and execution technology solutions to institutional clients worldwide, today announced that LiquidPoint executed and/or routed a record 88.8 million options contracts for the month of October 2009. This surpasses LiquidPoint's previous record set in July 2009 and represents an increase of 5.2% over its October 2008 volume. Overall volume of the U.S. options industry decreased approximately 12.1% in the same month-to-month comparison, according to transaction volume data obtained from the Options Clearing Corporation.
ConvergEx also announced today that LiquidPoint technology executed over 225 million contracts that were crosses at exchanges year-to-date.
"Crossing functionality and sourcing of liquidity have always been an integral part of our business ever since we introduced the technology seven years ago," said Anthony Saliba, chief executive officer of ConvergEx's LiquidPoint. "We continue to invest time and resources into our technology to deliver innovation and have worked closely with the exchanges, especially the CBOE, to fine tune our crossing capabilities. We rely on our roster of clients and our fill statistics to demonstrate our capabilities and we believe these strong results speak for themselves."
LiquidPoint, based in Chicago and a member of ConvergEx, is an agency-based registered broker-dealer that specializes in derivatives execution management technology and brokerage services for listed options and equities. LiquidPoint provides a total solution for today's dynamic and diverse trading requirements, combining sophisticated trading tools with its commitment to superior order execution services and focused customer support.
About ConvergEx
BNY ConvergEx Group, LLC provides investment and execution technology solutions to institutional clients worldwide. The Company provides a full array of leading technologies and an integrated platform of performance-driven, global trading capabilities. BNY ConvergEx Group is comprised of the following businesses: BNY ConvergEx Execution Solutions LLC (member NYSE/FINRA/SIPC), LiquidPoint, LLC (member CBOE/SIPC); Eze Castle Transaction Services LLC (member FINRA/SIPC); Westminster Research Associates LLC (member FINRA/SIPC); G-Trade Services LLC (member FINRA/SIPC); Eze Castle Software LLC, and ConvergEx Research Solutions LLC, of which Jaywalk and Cogent Consulting are divisions. Additional information is available at www.bnyconvergex.com.
Contact: Elizabeth Anderson
EAnderson@bnyconvergex.com
212.468.7713
SOURCE ConvergEx