ConvergEx Group, a leading provider of global brokerage and trading-related services, today announced that ConnEx, its outsourced hosted connectivity infrastructure business, has launched an updated version of its pre-trade risk management system, ConnEx Risk Management. ConnEx customers now have access to an expanded set of tools that provide additional risk checks with reduced latency and an improved user interface to help them manage their internal market access risk strategy.
“There have been a number of recent market events and new regulations that have highlighted why risk management continues to be a very important and ever-evolving topic in our industry,” said George Rosenberger, managing director and head of ConvergEx’s ConnEx.
With this upgrade, ConnEx customers can more easily configure risk controls for their clients using a host of additional pre-trade checks. The interface allows users to create customized client groups which can have one set of risk parameters or create a customized risk profile on a client-by-client basis. The software is deployed directly to ConnEx customers and the interface allows them to assign buying power, credit and risk checks for their underlying clients.
The new version of ConnEx Risk Management also addresses the challenge of multiple internal trading platforms that sell-side firms are faced with. This decentralization creates a challenge to administer consistent risk checks for all of their clients. However, by centralizing all client inbound connectivity through the ConnEx FIX gateway, ConnEx customers can administer consistent risk checks regardless of the trading system their client is using or the internal trading platform that the order is destined for.
“Sell-side firms need to invest in up-to-date risk management tools now to make sure that they have the right controls in place to help protect themselves against an unexpected market event today or in the future,” concluded Mr. Rosenberger.
ConnEx is a broker-neutral managed services provider that optimally configures FIX connectivity for customers, tailoring infrastructure to meet their ever-evolving business goals and requirements. Customers receive access to sophisticated tools that monitor their FIX orders while a web-based dashboard provides transparency into the onboarding lifecycle.