ConvergEx Group Delivers ADR Direct Technology for Korean Stocks

NEW YORK, Jan. 5, 2012 /PRNewswire/ -- ConvergEx Group, a leading technology company, today announced that customers can use its patented* ADR Direct® technology to trade ordinary shares in Korea and convert those shares to ADRs.  Using ADR Direct minimizes market impact and reduces explicit trading costs, all while offering real-time transparency.  Additionally, the ConvergEx ADR desk will provide guidance on headroom, foreign ownership and corporate actions.

"Opening Korea affords our diverse customer base access to another unique source of local liquidity," said Andrew Levine, managing director and head of ConvergEx's ADR business. "Whether this technology is being used by wrap accounts or institutional buy- and sell-side customers, our innovative ADR products and ADR Desk make it simple to invest in a growing number of emerging markets."

ConvergEx powers its ADR capabilities by leveraging advanced global equity execution and clearing technology. Customers are able to execute conversion trades through any OMS or EMS.

The ConvergEx ADR Desk offers a comprehensive suite of patented electronic ADR execution tools designed to enhance daily workflow while sourcing deeper global liquidity for ADR trades and conversions. ConvergEx's dedicated 24-hour ADR desk gives customers access to around-the-clock support. 

*ADR Direct includes technology subject to ConvergEx's U.S. Patent No. 7,778,896.

About ConvergEx Group

ConvergEx Group is a leading technology company providing mission-critical proprietary software products and technology-enabled services to asset managers and financial intermediaries globally.  Its products and services span the investment life cycle and are designed to enable customers to achieve improved results through operational and workflow efficiencies, execution and analytical tools and highly personalized service. The firm serves customers accessing over 100 global markets.  Formed in 2006, the firm has over 1,200 employees in 22 locations throughout the U.S., Europe, Asia, Australia and Africa.

ConvergEx Group includes ConvergEx Execution Solutions LLC (member NYSE/FINRA/SIPC); LiquidPoint, LLC (member CBOE/SIPC); G-Trade Services LLC (member FINRA/SIPC); Westminster Research Associates LLC (member FINRA/SIPC); Eze Castle Transaction Services LLC (member FINRA/SIPC); ConvergEx Prime Services LLC (member FINRA/SIPC); Eze Castle Software LLC; RealTick LLC; ConvergEx Solutions LLC, of which Cogent Consulting, ConnEx, Jaywalk and LDB are divisions; ConvergEx Limited in the UK and Australia; and ConvergEx Asia Pacific Limited in Hong Kong. ConvergEx Group, LLC is a subsidiary of ConvergEx Holdings, LLC.  Additional information is available at www.convergex.com.

Contact: Elizabeth Anderson
[email protected]
212.468.7713

SOURCE ConvergEx Group

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