ConvergEx Group, a leading provider of global brokerage and trading-related services, today announced that the firm has been named one of the World's Best Brokerages in Abel/Noser Solutions' (ANS) annual Global Broker Performance Study. The report ranks global brokerage firms on their ability to demonstrate best execution for clients.
"Every day at ConvergEx, our global staff delivers on our firm's commitment to provide the highest quality service and best execution for our clients," said Joseph M. Velli, chairman and chief executive officer of ConvergEx Group. "On behalf of all our clients and staff, I am very pleased to accept this recognition."
"We work very hard to pioneer innovative solutions, offer full trade transparency and maintain long-term and collaborative client partnerships," said Craig Lax, ConvergEx Group executive managing director and head of global execution. "We have built our strong industry reputation over many years of helping clients successfully navigate complex global markets - and that is how we plan to maintain it."
The study evaluates brokers using placement strike price results that reflect the moment when the broker first received instructions from the buy-side trader. ANS measured brokers on placement strike price summary results for the largest brokers in each region. Brokers' performance was evaluated against their "trade-level" benchmarks to assess which brokers executed best when accounting for market conditions.
To calculate trade-level benchmarks, ANS leveraged its proprietary universe of measured trades, consisting of over $7.5 trillion in trading from over 500 institutions globally.