ConvergEx Group, the US-headquartered trading technology provider and agency broker, has been awarded a patent for the technologies that support price improvement on its LiquidPoint options trading platform by the United States Patent and Trademark Office.
According to ConvergEx, the patent covers the proprietary technology, systems and methods of trading securities in which an order is received, the contra order is identified or generated and the contra order is sent to a market for execution in order to achieve price improvement.
“These now patented processes are the reason we got into this business in the first place 12 years ago, to create a more refined and automated method for liquidity providers to deliver price improvement to options customers,” said Anthony Saliba, chief executive officer of LiquidPoint. “This patent approval is yet another example of our commitment to provide exceptional technologies for the benefit of our clients.”
The LiquidPoint platform offers electronic trading tools and order execution services specifically designed for institutional options traders. According to ConvergEx, LiquidPoint routes and /or executes more than 30% of all US listed options flow.
Earlier this year, ConvergEx enhanced LiquidPoint with a new high-capacity, low-latency execution platform, BLAZE.