ConvergEx, a provider of investment and execution technology solutions to institutional clients worldwide, today announced that it has expanded its exchange traded fund (ETF) capabilities and has launched a dedicated ETF desk as part of the firm’s continued commitment to the ETF space.
Led by ConvergEx Managing Director Thomas Smykowski, the ConvergEx ETF team will utilize the expertise and resources from across the firm to provide a unique set of tools for clients, including a new emphasis on block crossing ETFs within ConvergEx CrossSM, ConvergEx’s dark block trading platform.
ETFs are a basket of securities aligned to a particular index that often offer a cost efficient investment, along with a high degree of transparency and liquidity. Additionally, ETFs give investors the ability to purchase a diversified portfolio with one instrument. Since 1993, over 1,500 ETFs have been launched worldwide and account for over $700 billion in assets. ETFs make up an estimated 40% of composite volume in the U.S.
“While ConvergEx has always offered our clients the ability to trade ETFs, this new desk will expand our footprint in the ETF space and give clients access to a comprehensive global offering,” said Smykowski, in a company release. “Leveraging our proprietary technologies and extensive experience in portfolio, block and options execution strategies, we will provide clients with specialized analysis and customized approaches for trading ETFs.”
As an added resource to clients, ConvergEx Chief Market Strategist Nicholas Colas has begun publishing weekly ETF market reports, which provide timely and insightful commentary on economic and global market trends affecting ETFs.
“ETFs have experienced steady and impressive levels of growth over the past several years and our clients have expressed an increasing amount of interest in these products,” said Colas, in the release. “However, with the large number and more complex ETFs being introduced to the marketplace, our clients appreciate this additional market color along with the knowledge of our seasoned ETF traders to help them make trading decisions.”