This functionality was developed in direct response to the market access principles set forth in SEC Rule 15c3-5 and was rolled out to customers the day the rule went into effect.

"The market access controls are being used by LiquidPoint for our customers and also by the floor brokers at the Chicago Board Options Exchange, NYSE AMEX and NYSE ARCA, whose combined activity accounts for the majority of open outcry volume in options in the U.S.," said Anthony Saliba , chief executive officer of ConvergEx's LiquidPoint. "Having the capability to deliver this type of mission-critical functionality to the industry has been LiquidPoint's hallmark since our inception."

The Market Access Control functionality allows for the management of limits for access controls - both per order and for aggregated activity. This new functionality leverages LiquidPoint's innovative BLAZE™ technology and includes features that allow:

Users to set limits for each market access control via an admin window;
Limits to be applied to user specified accounts;
Users with supervisory authority to override the limit that has rejected a particular order.

In addition to setting limits for market access controls, the window also serves as a tool to monitor aggregated order activity and the associated warning limits. Filters may be added to the window to allow users to view records:

That have an actual value that exceeds a set limit;
That have a predictive value that exceeds a set limit;
For options, equity or futures measures.

The data can be sorted and filtered on the fly to meet the immediate needs of the customer; however each user will need to determine what functionality and systems it needs to comply with the rule. The market access control activity is also logged to a database which may be used by customers for audit purposes.

ConvergEx's LiquidPoint offers flexible, customizable and comprehensive solutions, specifically designed to meet the diverse needs of iiverse needs of institutional options traders. Combining sophisticated electronic trading tools with superior order execution services and outstanding customer support, LiquidPoint provides a complete platform to help maximize options execution efficiency while seeking to improve performance and overall results.