NEW YORK, Jan. 11, 2017 /PRNewswire/ -- Convergex, an agency-focused global brokerage and trading related services provider, is pleased to announce that it recently enhanced its ADR brokerage offering by expanding its conversion trading capabilities that include continued improvements to its ADR Direct® platform which allows its clients access to over 25 conversion markets. In addition, Convergex's ADR volume has been steadily increasing, with November 2016 posting its highest single trading month in almost 4 years with approximately 68,500,000 ADRs converted. In addition, 2016 annual volume reached almost 500,000,000 million shares with over 17,500 conversions, the most conversions since 2013.
"Convergex has been seeing a steady increase in its ADR business as more and more customers who are looking to access the ADR marketplace are choosing Convergex as their destination of choice," said Eric W. Noll, Convergex President and CEO. "In addition, clients especially appreciate our agency-focused business model and the fact that we offer a dedicated 24-hour ADR desk to guide clients through the ADR conversion trading process."
Convergex's ADR brokerage capabilities and patented ADR product, ADR Direct, allow clients to trade ordinary shares overseas, convert shares to ADRs in U.S. dollars and receive an ADR conversion price. Our advanced U.S. liquidity management tools such as smart order routing, DMA, algorithms, and ATSs are leveraged to power ADR Direct's capabilities. Whether using Convergex's high or low touch capabilities, clients can directly and anonymously trade ADRs by connecting seamlessly to Convergex through their OMS or EMS and utilizing ADR Direct or the firm's 24-hour desk for the conversion process.
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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