ConvergEx has made enhancements to its execution capabilities in the Asia-Pacific markets.
In order to keep customers connected to new liquidity centers as they become available, ConvergEx's Darkest, Grey and Abraxas algorithms now route to four new dark and two new lit venues in Hong Kong, Australia and Japan. In addition, the company has given its customers access to new algorithmic trading strategies in Malaysia, Indonesia and Korea, including reserve, scaling and pegging.
"Market volumes in Asia have declined significantly over the past few years," says William Capuzzi, president of ConvergEx's global execution business. "Complicating the picture, despite the growth in alternative trading systems, the majority of dark Asian liquidity does not interact with one other. This means that traders face the challenge of finding liquidity across numerous locations, while minimizing the number of tools they have to deploy for cost and efficiency purposes. As the Asia-Pacific trading landscape continues its evolution, we will continue to adapt technologies and methodologies to maximize opportunities in these fragmented markets."
These enhancements address the complexities of big spreads, high volatility and low volume and is key to delivering consistent execution performance, especially for stocks that are illiquid or do not follow regular VWAP curves.
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