Convergex has entered into a clearing agreement with INTL FCStone Financial enabling it to offer its clients access to FCStone's futures execution capabilities and prime brokerage platform.
With FCStone, Convergex Prime Services will be able to offer its clients 24-hour trading access and full portfolio and risk reporting features traditionally only available to larger hedge fund managers. In addition, Convergex's clients will also have full access to FCStone's research geared towards CTAs, CPOs, and hedge funds.
Convergex Prime Services will leverage its existing world class platform by offering an innovative new suite of futures offerings geared towards CTAs and futures hedge fund managers. The enhanced futures platform will also include risk reporting and controls, daily portfolio reporting, multiple clearing options, a prime brokerage dashboard, and will be fully supported by an experienced back office team of professionals.
"While we have always offered our clients comprehensive futures execution and clearing services, we are focused on providing additional services to this growing segment of the marketplace to meet the needs of our clients," said Doug Nelson (pictured), Convergex executive managing director and head of global clearing and prime services. "With our new relationship with FCStone, Convergex is committed to creating a full-service offering designed to appeal to fund managers that are looking for multiple clearing options, additional execution platform choices and better pricing."
Convergex Prime Services is a leading provider of integrated prime services to hedge funds, family offices, mutual funds, and registered investment advisors (RIAs). Its customised, high-end execution solutions include direct market access (DMA) platforms, multiple custody and clearing options, advanced pre- and post-trade analytics, access to securities lending providers, and capital introduction services. By combining boutique-firm service levels and pricing with professional clearing and prime brokerage services, Convergex offers a prime services package previously available only to the largest institutions.
