ConvergEx Unveils Premarket Trading Algo

Scott Daspin, ConvergEx

The algo allows users to capture liquidity in the morning before the markets open, when liquidity is sparse and pricing is more difficult. The process is challenging and largely manual for traders, which prompted ConvergEx to develop the algorithm, says Scott Daspin, managing director in ConvergEx's global electronic execution group.

"We noticed that clients were actually using handheld calculators to figure out how much they should participate before the open when a manager wants to get

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