Convergex Introduces New Buy-Write Algorithm

Combines Convergex's advanced VWAP algo with its Pulse options algo

Jul 22, 2015, 15:50 ET from Convergex

NEW YORK, July 22, 2015 /PRNewswire/ -- Convergex, an agency-focused global brokerage and trading related services provider, today announced the launch of its new Buy-Write Algorithm. This new algorithm leverages Convergex's advanced VWAP equity algorithm and Pulse options algorithm to allow clients to electronically employ a buy-write trading strategy.

Convergex's Buy-Write Algorithm combines the power and reach of the firm's equity trading capabilities with the cutting-edge technology of its options business, to purchase equities while simultaneously selling call options on the same stock. Using the Buy-Write Algo, clients can hedge their equities trades while also generating additional income from options premiums.

"Our diverse client base is always looking for new ways to extract more yield from the marketplace," said Oliver Sung, Convergex managing director and head of electronic execution. "This buy-write algorithm provides a powerful new way for our clients to employ options in their investment strategy."

"The Buy-Write Algo leverages the power of a buy-write strategy by simplifying the process for those new to the space," said David Cross, Convergex managing director for options trading and technology. "We're excited to be able to respond to client demand for a tool that combines our equities and options trading capabilities in this new way."

About Convergex
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.

Important Information

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 is a division; Westminster Research Associates LLC (member FINRA/SIPC); and Convergex Solutions LLC, of which Connex, 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.

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, other than as a selling group member.

Please be advised that options carry a high level of risk and are not suitable for all investors. To receive a copy of the Options Disclosure Document please contact the Convergex Compliance Department at (800) 367-8998.

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. 4/1/15)

Contact:

Michael Kingsley


MKingsley@convergex.com


212.468.7713

 

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SOURCE Convergex



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