Convergex Deploys Darkest, a Liquidity Seeking Algorithm
- Darkest caters to both buy and sell-side clients, which acts as a low impact, cost effective liquidity seeking algorithm.
Convergex, an agency-focused global brokerage and trading related services provider, has launched a new options trading algorithm, tapped Darkest, which helps facilitate the search for Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term across a multitude of markets, per a Convergex statement.
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Darkest caters to both buy and Sell-Side Sell-Side Those in the financial industry involved with the production, marketing, and the sale of bonds, forex, stocks, and other financial instruments constitute the sell-side.Products and services produced by the sell-side are geared towards those who on the buy-side. You can think of the sell-side and buy-side like a coin, you cannot have one side without the other. The sell-side is comprised of individuals, firms, fintech companies, and market makers, who are responsible for providing liquidity in th Those in the financial industry involved with the production, marketing, and the sale of bonds, forex, stocks, and other financial instruments constitute the sell-side.Products and services produced by the sell-side are geared towards those who on the buy-side. You can think of the sell-side and buy-side like a coin, you cannot have one side without the other. The sell-side is comprised of individuals, firms, fintech companies, and market makers, who are responsible for providing liquidity in th Read this Term clients, which acts as a low impact, cost effective liquidity seeking algorithm. The impetus behind the algorithm is search for potentially hidden liquidity via the deployment of a passively operating trading algorithm. The new utility can also specify from a list of user-specified exchanges, helping streamline liquidity searches.
Darkest serves as a complement to Convergex's existing NXP options ATS, which also helps provide options market liquidity and potential price improvement capabilities to market participants. For its part, Darkest includes a wide range of features such as low market impact, user-specified time intervals for liquidity, and a customizable interface to better serve a wide spectrum of clients.
Eric Noll
According to Eric W. Noll, Convergex’s Chief Executive Officer (CEO) and President, "Convergex's Darkest options algorithm is geared towards market participants seeking a more effective way to capture market liquidity. By leveraging our sophisticated technology systems, we were able to create a multi-faceted options algorithm with increased flexibility while also taking into consideration cost, timing, performance, transparency, and market structure requirements," said Noll.
Convergex, an agency-focused global brokerage and trading related services provider, has launched a new options trading algorithm, tapped Darkest, which helps facilitate the search for Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term across a multitude of markets, per a Convergex statement.
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Darkest caters to both buy and Sell-Side Sell-Side Those in the financial industry involved with the production, marketing, and the sale of bonds, forex, stocks, and other financial instruments constitute the sell-side.Products and services produced by the sell-side are geared towards those who on the buy-side. You can think of the sell-side and buy-side like a coin, you cannot have one side without the other. The sell-side is comprised of individuals, firms, fintech companies, and market makers, who are responsible for providing liquidity in th Those in the financial industry involved with the production, marketing, and the sale of bonds, forex, stocks, and other financial instruments constitute the sell-side.Products and services produced by the sell-side are geared towards those who on the buy-side. You can think of the sell-side and buy-side like a coin, you cannot have one side without the other. The sell-side is comprised of individuals, firms, fintech companies, and market makers, who are responsible for providing liquidity in th Read this Term clients, which acts as a low impact, cost effective liquidity seeking algorithm. The impetus behind the algorithm is search for potentially hidden liquidity via the deployment of a passively operating trading algorithm. The new utility can also specify from a list of user-specified exchanges, helping streamline liquidity searches.
Darkest serves as a complement to Convergex's existing NXP options ATS, which also helps provide options market liquidity and potential price improvement capabilities to market participants. For its part, Darkest includes a wide range of features such as low market impact, user-specified time intervals for liquidity, and a customizable interface to better serve a wide spectrum of clients.
Eric Noll
According to Eric W. Noll, Convergex’s Chief Executive Officer (CEO) and President, "Convergex's Darkest options algorithm is geared towards market participants seeking a more effective way to capture market liquidity. By leveraging our sophisticated technology systems, we were able to create a multi-faceted options algorithm with increased flexibility while also taking into consideration cost, timing, performance, transparency, and market structure requirements," said Noll.