ConvergEx integrates NorthPoint Trading Partners

Source: ConvergEx

ConvergEx Group, a leading provider of investment technologies and execution solutions to institutional clients worldwide, today announced that it has completed the integration of NorthPoint Trading Partners, its recently acquired boutique prime brokerage business.

With this, ConvergEx is pleased to now offer a new Integrated Prime Services model that combines traditional boutique prime brokerage offerings with ConvergEx's state-of-the-art investment technologies and extensive global reach. This new model significantly expands the products and technologies available to smaller hedge funds and other asset managers and gives clients access to a complete suite of services that no other boutique prime brokerage firm can match.

"ConvergEx is known throughout the industry for its strong commitment to technological innovation and together we have deep insights into the needs of hedge funds. In fact, just between ConvergEx's NorthPoint and Eze OMS businesses, we serve more than a half-trillion dollars of hedge fund assets," said Douglas Nelson, chief executive officer of NorthPoint Trading Partners. "By offering a solution for virtually all of our clients' needs, from start-up services and capital introduction to advanced execution technologies, we have created a one-stop shop that is truly unique in the marketplace and one that gives our clients a considerable edge."

Some of the services now offered to NorthPoint clients include preferred access to:

* A full suite of advanced algorithmic strategies, including Abraxas(SM), ConvergEx's highly intelligent, tactical trading algorithm
* Vast agency liquidity through ConvergEx's three internal ATSs: Millennium(SM), VortEx(SM) and ConvergEx Cross(SM)
* A fully staffed 24-hour desk for execution in over 100 global markets
* ConvergEx's block trading, exchange traded funds (ETF), American depositary receipts (ADR) and fixed income desks
* Advanced derivative execution management technologies
* ConvergEx's Eze order management system (OMS) for trading, compliance, operations, portfolio management and analytics
* One of the industry's largest networks of independent research
* Comprehensive commission management technologies as and services

"With the new Integrated Prime Services model, NorthPoint is leading the way in providing fund managers with a truly comprehensive and customizable product that is backed by our high-touch client service," said Michael DeJarnette, president of NorthPoint Trading Partners. "In a highly competitive industry, this new model separates NorthPoint from other prime brokerage firms with the extensive services that the NorthPoint and ConvergEx partnership provides."

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