ConvergEx releases ADR Direct for Philippines and Poland

Source: ConvergEx

ConvergEx Group, a leading technology company, today announced that its patented* ADR Direct® technology is now available for Philippine and Polish stocks.

Using the ADR Direct technology, customers can trade ordinary shares in the Philippines and Poland and convert those shares to ADRs - helping customers minimize market impact and reduce explicit trading costs, while giving them a real‐time view of the components of their trades.

"Offering access to these additional sources of local liquidity gives our customers greater flexibility and expanded access to emerging markets," said Andrew Levine, managing director and head of ConvergEx's ADR business. "Our customers also have the benefit of our dedicated ADR desk, which is able to provide guidance on foreign ownership limitations and corporate actions, especially in emerging markets."

ADR Direct is a pioneering product that leverages advanced global equity execution and clearing technology. ConvergEx customers are able to use the technology to execute conversion trades in 32 countries through any OMS or EMS. Other recently added markets include Indonesia, Korea, Thailand, Turkey and Malaysia.

The ConvergEx ADR Desk offers a comprehensive suite of patented electronic ADR execution tools designed to enhance daily workflow while sourcing deeper global liquidity for ADR trades and conversions. ConvergEx's dedicated 24‐hour ADR desk gives customers access to around‐the‐clock support.

*ADR Direct includes technology subject to ConvergEx's U.S. Patent No. 7,778,896.

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