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Convergex launches tactical trading algorithm

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Convergex Group, a provider of investment technologies and execution solutions, has launched a tactical trading algorithm designed for orders requiring careful execution.

Using a proprietary multi-dimensional sensitivity profile, Abraxas aims to exploit hidden liquidity, favourable price movements and volatility changes, while navigating difficult markets.
Abraxas is available to clients through all major OMSs, EMSs and through Convergex’s electronic trading desk.

Additionally, Abraxas has been deployed on Convergex’s high-touch desk, where Convergex leverages high performance technology on behalf of clients.
“Abraxas employs highly adaptable technology and simultaneously uses a mix of different order types to rapidly respond to changing markets,” says Craig Lax, executive managing director at Convergex Group. “Abraxas performs particularly well in challenging trading environments and when a trade demands urgent execution. We are pleased to report that Abraxas is getting favorable results for clients, whether they utilize it on their desktops or through Convergex’s high-touch desk.”

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