NEW YORK, Nov. 11, 2015 /PRNewswire/ -- Convergex, an agency-focused global brokerage and trading related services provider, announced today that it has entered into a clearing agreement with INTL FCStone Financial Inc. that will enable Convergex to offer its clients access to FCStone's futures execution capabilities and prime brokerage platform. With FCStone, Convergex Prime Services will be able to offer its clients 24-hour trading access and full portfolio and risk reporting features traditionally only available to larger hedge fund managers. In addition, Convergex's clients will also have full access to FCStone's research geared towards CTAs, CPOs, and hedge funds.
Convergex Prime Services will leverage its existing world class platform by offering an innovative new suite of futures offerings geared towards CTAs and futures hedge fund managers. The enhanced futures platform will also include risk reporting and controls, daily portfolio reporting, multiple clearing options, a prime brokerage dashboard, and will be fully supported by an experienced back office team of professionals.
"While we have always offered our clients comprehensive futures execution and clearing services, we are focused on providing additional services to this growing segment of the marketplace to meet the needs of our clients," said Doug Nelson, Convergex executive managing director and head of global clearing and prime services. "With our new relationship with FCStone, Convergex is committed to creating a full-service offering designed to appeal to fund managers that are looking for multiple clearing options, additional execution platform choices and better pricing."
Convergex Prime 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 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.
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)