Bank of New York-owned brokerage firm BNY ConvergEx has bought LiquidPoint, a listed options execution and trading technology firm that provides services to institutional traders, prime brokers, hedge funds, financial intermediaries and options exchanges. The price was not disclosed.
LiquidPoint, which is based in Chicago, is an agency-based registered broker- dealer that specializes in derivatives execution management technology and brokerage services for listed options and equities. LiquidPoint claims to be responsible for routing and/or executing over 22 percent of the daily listed options trading volume in the United States.
"The LiquidPoint team is excited that BNY ConvergEx Group has selected us to become part of their family of world-class providers of products and services," says Anthony J. Saliba, LiquidPoint's president and CEO. "LiquidPoint is a leader in the electronic options trading industry and we are very enthusiastic about the opportunity to expand the scope of solutions that we can bring to our combined customer base."