Jon Simblist Joins Convergex's Options Team as Convergex Sets Another One-Day Options Trading Volume Record
NEW YORK, Oct. 20, 2015 /PRNewswire/ -- Convergex, an agency-focused global brokerage and trading related services provider, is pleased to announce that Jon Simblist has joined Convergex's Options team as Managing Director and will oversee Convergex's buy-side institutional sales initiatives as well as focus on options trading strategies. An industry veteran, Mr. Simblist most recently worked at Instinet where he was head of electronic derivative sales. In addition, Simblist has a strong background in options trading and technology as well as creating and implementing trading solutions in listed options for hedge funds, asset managers, banks and broker dealers.
"We are thrilled to have Jon join our options team as he is widely known and respected within the options industry and his knowledge and experience will be immensely beneficial as we continue to expand our footprint in this key marketplace," said Ben Londergan, Executive Managing Director of Options Trading and Technology at Convergex. "Convergex's options platform is one of the most robust in the industry as our offerings include equities, clearing, routing, high touch, and soft dollar capabilities and Jon will be instrumental in pushing forward Convergex's new options offerings and technology enhancements."
Convergex's options platform has seen tremendous growth over recent months and recently set another new one-day options volume record for the firm on October 15, 2015 when options trading exceeded 1.8 million contracts, representing approximately 10% of the total U.S. listed equity options volume traded on that date.
In addition, Convergex recently announced it entered into an agreement with IMC Financial Markets (IMC) to combine forces on an innovative liquidity program focused on the options market. This strategic relationship with IMC will enable both firms to work together with retail brokerages to execute and route options trades, with the goal of potentially improving pricing on customer orders. Each firm believes this relationship has the potential to enhance liquidity in the options market and improve pricing for retail traders.
Convergex's options platform offers its clients advanced options execution technologies, risk-management tools, and customized solutions that meet their specific needs.
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:
Lynda Caravello
[email protected]
212.468.7713
Logo - http://photos.prnewswire.com/prnh/20150722/240275LOGO
SOURCE Convergex
Share this article