Convergex, an agency-focused global brokerage and trading related services provider, has revealed plans for the launch of a new agency-only ETF quote-sourcing platform, ETF Direct.
The new platform will include the ability to request competitive quotes simultaneously from multiple liquidity providers including those in niche markets and sectors, and complete anonymity for clients and market makers. Users will have access to an aggregated competitive market, with a comprehensive audit trail, highlighting transparency.
The launch of Convergex’s ETF Direct platform is anticipated for August 2015.
“We are very excited about this innovative new platform,” says Troy Draizen (pictured), Convergex’s Global Head of Electronic and Portfolio Sales. “We believe that it will continue to enhance price discovery when trading block size ETFs where liquidity is a concern.”
