ConvergEx Group Delivers Options Market Access Controls Via LiquidPoint

NEW YORK, Dec. 7, 2011 /PRNewswire/ -- ConvergEx Group, a leading technology company, today announced that LiquidPoint has successfully implemented Market Access Control functionality for its complete product line including its Floor Broker Workstations (FBW).  This functionality was developed in direct response to the market access principles set forth in SEC Rule 15c3-5 and was rolled out to customers the day the rule went into effect.

"The market access controls are being used by LiquidPoint for our customers and also by the floor brokers at the Chicago Board Options Exchange, NYSE AMEX and NYSE ARCA, whose combined activity accounts for the majority of open outcry volume in options in the U.S.," said Anthony Saliba, chief executive officer of ConvergEx's LiquidPoint.  "Having the capability to deliver this type of mission-critical functionality to the industry has been LiquidPoint's hallmark since our inception."    

The Market Access Control functionality allows for the management of limits for access controls – both per order and for aggregated activity. This new functionality leverages LiquidPoint's innovative BLAZE™ technology and includes features that allow:

• Users to set limits for each market access control via an admin window;
• Limits to be applied to user specified accounts;
• Users with supervisory authority to override the limit that has rejected a particular order.

In addition to setting limits for market access controls, the window also serves as a tool to monitor aggregated order activity and the associated warning limits.  Filters may be added to the window to allow users to view records:

• That have an actual value that exceeds a set limit;
• That have a predictive value that exceeds a set limit;
• For options, equity or futures measures.

The data can be sorted and filtered on the fly to meet the immediate needs of the customer; however each user will need to determine what functionality and systems it needs to comply with the rule.  The market access control activity is also logged to a database which may be used by customers for audit purposes.

ConvergEx's 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 technology company providing mission-critical proprietary software products and technology-enabled services to asset managers and financial intermediaries globally.  Its products and services span the investment life cycle and are designed to enable customers to achieve improved results through operational and workflow efficiencies, execution and analytical tools and highly personalized service. The firm serves customers accessing over 100 global markets. Formed in 2006, the firm has over 1,200 employees in 22 locations throughout the U.S., Europe, Asia, Australia and Africa.

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); Eze Castle Transaction Services LLC (member FINRA/SIPC); ConvergEx Prime Services LLC (member FINRA/SIPC); Eze Castle Software LLC; RealTick LLC; ConvergEx Research Solutions LLC, of which Jaywalk, Cogent Consulting and LDB are divisions; ConvergEx Limited in the UK and Australia; and ConvergEx Asia Pacific Limited in Hong Kong. ConvergEx Group, LLC is a subsidiary of ConvergEx Holdings, LLC.  Additional information is available at www.convergex.com.

SOURCE ConvergEx Group