NEW YORK, Jan. 3, 2013 /PRNewswire/ -- ConvergEx Group, a leading technology company, today announced that is has made several significant enhancements to its execution capabilities in the Asia-Pacific markets. In order to keep customers connected to new liquidity centers as they become available, ConvergEx's Darkest, Grey and Abraxas algorithms now route to four new dark and two new lit venues in Hong Kong, Australia and Japan. In addition, the company has given its customers access to new algorithmic trading strategies in Malaysia, Indonesia and Korea, including reserve, scaling and pegging. Finally, ConvergEx has also optimized its Asia-specific benchmark algorithms.
"Market volumes in Asia have declined significantly over the past few years. Complicating the picture, despite the growth in alternative trading systems, the majority of dark Asian liquidity does not interact with one other. This means that traders face the challenge of finding liquidity across numerous locations, while minimizing the number of tools they have to deploy for cost and efficiency purposes," said William Capuzzi, president of ConvergEx's Global Execution Business. "As the Asia-Pacific trading landscape continues its evolution, we will continue to adapt technologies and methodologies to maximize opportunities in these fragmented markets."
This most recent round of enhancements addresses the complexities of big spreads, high volatility and low volume and is key to delivering consistent execution performance, especially for stocks that are illiquid or do not follow regular VWAP curves.
"We constantly keep track of new venues in both the dark and lit landscape in Asia to ensure broad coverage of routing technology. We systematically evaluate fill rate and quality of each dark pool we connect to in order to help ensure best execution for clients," said Jason Rand, head of electronic and portfolio trading for Europe and Asia. "We are proud of the sophisticated suite of technologies that we have built that give traders the tools to streamline their efforts in Asia-Pacific markets. Our pipeline of new products continues to be strong and we are looking forward to launching several new technologies and markets in the coming quarter."
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 more than 4,000 customers accessing over 100 global markets. Formed in 2006, the firm has over 1,250 employees located in 23 cities throughout the Americas, Europe, Middle East, Africa and Asia-Pacific.
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 Solutions LLC, of which Cogent Consulting, ConnEx, Jaywalk 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