ConvergEx Group’s Patented ADR Products Now Offered Through RealTick® Platform

ConvergEx Group, a technology company, announced that it has made its patented ADR Direct® and Reverse ADRSM products available to its customers through RealTick®, its award-winning EMS platform. ConvergEx customers using RealTick have access to a new user-friendly workflow that centralizes all the components of ADR conversions with global trade Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term.

The comprehensive functionalities begin in the trade montage with a color-coded conversion button which displays in real time if a security is available for conversion - irrespective of where the security is traded. It then calculates conversion ratios and the number of ADRs/ordinary shares to trade. Once an ADR/ordinary share trade has been executed, customers can seamlessly facilitate conversions in the RealTick blotter with the flexibility to either convert all or some of the executed shares.

Users can also stage an order from their OMS to RealTick and ConvergEx’s ADR technology will electronically set up a trading ticket. Even though the executed orders are in a different market than the staged order, the fills will come back to the customer’s OMS in the symbol and currency of the staged order.

“Our unique functionality gives ConvergEx customers a solution to easily and automatically convert ordinary shares to ADRs and ADRs to ordinary shares in real time within the RealTick execution blotter,” said Andrew Levine, managing director and head of ConvergEx's ADR business. “It offers the benefits of extended 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 hours, while minimizing market impact and reducing trading costs. In addition, we also give customers the flexibility to either electronically trade and execute conversions within RealTick or have the ConvergEx ADR Desk execute the conversion trade on their RealTick blotter.”

ConvergEx’s ADR offering within RealTick includes:

ADR Direct – This ground‐breaking product allows customers to trade ordinary shares in 32 countries, convert the shares to ADRs in U.S. dollars and receive a net ADR price in real time. With ADR Direct, a customer settles the ADR portion of the trade through the U.S. settlement system.

Reverse ADR – Investors can extend the local liquidity day into U.S. trading hours, continue to trade when there is news or to diversify trading markets during the Europe/U.S. overlap. With Reverse ADR, customers can trade ADRs in the U.S., receive a local currency conversion price and settle the trade in ordinary shares in the local currency, all according to the local settlement cycle.

ConvergEx’s fully dedicated 24-hour ADR Desk offers support for ADR execution capabilities throughout Europe, Asia, South America, the Middle East and Africa. It provides access to overseas trading liquidity, conversion liquidity points, swap markets, odd lot and buy-in trading markets, corporate action issues, and securities borrowing. It is available to customers who both want to process their trade and conversion by themselves and to customers that prefer high-touch services.