Agency broker and technology provider ConvergEx has launched a dedicated exchange-traded fund (ETF) desk and expanded its ETF trading capabilities.
Led by managing director Thomas Smykowski, the ETF team will utilise a number of existing ConvergEx resources, such as block trading of ETFs using ConvergEx Cross, one of the firm’s three non-displayed liquidity platforms. Additionally, clients will be able to benefit from weekly reports on economic and global market trends affecting ETFs, published by ConvergEx chief market strategist Nicholas Colas.
“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 statement. “Leveraging our proprietary technologies and extensive experience in portfolio, block and options execution strategies, we will provide clients with specialised analysis and customised approaches for trading 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,” added Colas. “However, with the large number and more complex ETFs being introduced to the marketplace, our clients appreciate this additional market colour along with the knowledge of our seasoned ETF traders to help them make trading decisions.”
ETFs are a basket of securities that give investors exposure to an index or market sector through one instrument listed on an exchange. According to ConvergEx, 1,500 ETFs have been launched since 1993 globally, accounting for $700 billion in assets.