NEW YORK, Oct. 28 /PRNewswire/ -- ConvergEx Group, a leading technology company, today announced that clients can now use its patented ADR Direct® technology to electronically trade ordinary shares in Indonesia and Malaysia and convert the shares to ADRs in U.S. dollars. This technology offers real-time transparency, minimizes market impact and reduces explicit trading costs.
"As the leader in the ADR space, ConvergEx is continually looking for new ways to provide access to overseas liquidity and building ADR Direct for Malaysia and Indonesia offers unique opportunities for our clients," said Andrew Levine, managing director and head of ConvergEx's ADR business. "Our innovative ADR products enable our clients to easily invest in emerging markets through a simplified workflow. In the coming months we plan to open several new destinations so that clients continue to have the broadest access to world markets."
ConvergEx is a leading technology company providing products and 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 institutional clients in 100 global markets. Formed in 2006, the firm has over 1,000 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, and ConvergEx Research Solutions LLC, of which Jaywalk and Cogent Consulting are divisions. Additional information is available at www.convergex.com.
SOURCE ConvergEx Group