Convergex Prime Services Enters Clearing Agreement with Futures Specialist FCStone

Nov 11 2015 | 3:57pm ET

Global brokerage and trading services provider Convergex has inked a clearing agreement with INTL FCStone Financial to bring FCStone's futures execution capabilities and prime brokerage platform to customers of Convergex’s Prime Services division. 

The new arrangement will provide 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, according to the company.

The enhanced futures platform will also include multiple clearing options and 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, Convergex executive managing director and head of global clearing and prime services, in a statement.

"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," he continued.

New York-based Convergex is an agency-focused global brokerage and trading-related services provider serving early 3,000 clients and accessing over 100 global market centers. The company’s Prime Services unit provides integrated prime services to hedge funds, family offices, mutual funds, and registered investment advisors. 

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