NEW YORK and CHICAGO, March 24, 2011 /PRNewswire/ -- ConvergEx Group, a leading technology company, today announced that the United States Patent and Trademark Office has issued United States Patent Number 7,912,779 to LiquidPoint for its technologies relating to stock and index option price improvement.
The patent covers the proprietary technology, systems and methods of trading securities in which an order is received, the contra order is identified or generated and the contra order is sent to a market for execution in order to achieve price improvement.
"This patent is a great achievement for LiquidPoint. These now patented processes are the reason we got into this business in the first place 12 years ago, to create a more refined and automated method for liquidity providers to deliver price improvement to options customers," said Anthony Saliba, chief executive officer of ConvergEx's LiquidPoint. "This patent approval is yet another example of our commitment to provide exceptional technologies for the benefit of our clients."
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 trading efficiency while seeking to improve performance and overall results.
About ConvergEx Group
ConvergEx Group is a leading technology company providing mission critical software and technology-enabled services to asset managers and financial intermediaries globally. Its products and services span the investment life cycle and center on the development, marketing and servicing of technology-based solutions that enable clients to achieve improved investment results through operational and workflow efficiencies, execution and analytical tools and highly personalized service. The firm serves more than 6,000 clients in 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.
BNY ConvergEx Group, LLC 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); NorthPoint Trading Partners, LLC (member FINRA/SIPC); Eze Castle Software LLC, RealTick LLC and ConvergEx Research Solutions LLC, of which Jaywalk, Cogent Consulting and LDB are divisions. Additional information is available at www.convergex.com.
SOURCE ConvergEx Group