October 28, 2010

ConvergEx announced that traders can now use its ADR Direct platform to trade shares in Indonesia and Malaysia, and convert those stocks to American Depositary Receipts in U.S. dollars.

The firm added that ADR direct minimizes market impact, reduces trading costs, and offers real-time transparency of those markets. ConvegEx also said it plans to expand the platform to cover several more overseas markets.

“ConvergEx is continually looking for new ways to provide access to overseas liquidity and building ADR Direct for Malaysia and Indonesia offers unique opportunities for clients,” Andrew Levine, the head of ConvergEx’s ADR business said in a statement.

ABOUT THE AUTHOR
As the Senior Editor of Advanced Trading, Justin Grant plays a key role in steering the magazine's coverage of the latest issues affecting the buy-side trading community. Since joining Advanced ...