NEW YORK, Jan. 17, 2017 /PRNewswire/ -- Convergex, an agency-focused global brokerage and trading related services provider, is pleased to announce that in 2016, its Prime Brokerage business added new clients with a collective total of over $1 billion in assets and continues to see a steady increase in its international client-base. Enhancements to Convergex's Prime Services product offerings, including expanding its futures execution and clearing services and adding fully-paid for lending capabilities, helped generate additional interest and growth from both the U.S. and Europe.
The Convergex Prime Services team offers a full-range of services to its clients including opening and monitoring accounts, cross referencing securities and customized reporting capabilities. In addition, the team is focused on providing investors the ability to lend out and generate additional interest income on fully-paid-for or excess margin securities.
"Convergex has been seeing a steady increase in the number of European-based hedge funds looking for U.S. prime brokers as they have found the full scope of our product offerings to be a safer and more cost-effective alternative," said Doug Nelson, Convergex Executive Managing Director and Head of Global Clearing and Prime Services. "Convergex is focused on expanding its European presence through its global offerings and by providing a superior level of customer service in both the U.S. and abroad."
Convergex Prime Brokerage Services is a leading provider of integrated prime services to hedge funds, family offices, mutual funds, and registered investment advisors (RIAs). Its customized, high-end execution solutions include direct market access (DMA) platforms, multiple custody and clearing options, advanced pre- and post-trade analytics, access to securities lending providers, and capital introduction services. By combining boutique-firm service levels and pricing with professional clearing and prime brokerage services, Convergex offers a prime services package previously available only to the largest institutions.
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.
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 and Options Trading and Technology are divisions; Westminster Research Associates LLC (member FINRA/SIPC); and Convergex Solutions LLC, of which 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. Westminster Research Associates LLC is regulated in the United States by the U.S. Securities and Exchange Commission. Westminster provides services in Australia pursuant to an exemption from the requirement to hold an Australian financial services license under the Corporations Act 2001 (ASIC Class Order [CO 03/1100]).
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.
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. 01/03/17)
© 2017 Convergex Group, LLC. All rights reserved.
Contact: Lynda Caravello
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SOURCE ConvergEx Group, LLC