In a bid to grab more market share in equities and hopefully, profits, Convergex is about to make another splash in the electronic exchange traded fund (ETF) arena.
Convergex’s new trading platform, dubbed ” ETF Direct,” will offer the buyside an agency-only ETF quote-sourcing platform.
ETF Direct will offer traders:
– The ability to request competitive quotes simultaneously from multiple liquidity providers including those in niche markets and sectors.
– Complete anonymity for clients and market makers.
– Access to an aggregated competitive market.
– A comprehensive audit trail, highlighting transparency.
“We are very excited about this innovative new platform,” said Troy Draizen, Convergex’s global head of electronic & portfolio sales.”We believe that it will continue to enhance price discovery when trading block size ETFs where liquidity is a concern.”
The launch of Convergex’s ETF Direct platform is anticipated for August 2015.
