LiquidPoint, an agency-based broker owned by investment technology firm BNY ConvergEx, routed and/or executed 685 million options contracts in 2007. BNY says this is the seventh consecutive year since the inception of LiquidPoint in 1999 that the firm’s yearly performance has outpaced the previous year. BNY ConvergEx Group completed its acquisition of LiquidPoint on 2 July 2007.
LiquidPoint’s average daily volume in 2007 represented an increase of 56% compared with the year before, and its share of Options Clearing Corporation (OCC) volume increased 57% compared with 2006. The overall volume of the US options industry increased approximately 41% in 2007, according to transaction volume data obtained from the OCC.
“Last year’s record-breaking volume numbers are a direct result of the increasing amount of advanced electronic functionality engineered into the Heat System as well our ability to listen to what our clients want and customise their systems to suit their individual options trading preferences,” says Anthony Saliba, president and CEO of LiquidPoint. “This will not change in 2008 and beyond.”