ConvergEx Group Delivers ADR Direct Technology for Korean Stocks
ConvergEx Group, a leading technology company, announced January 5 that customers can use its patented* ADR Direct® technology to trade ordinary shares in Korea and convert those shares to ADRs. Using ADR Direct minimizes market impact and reduces explicit trading costs, all while offering real‐time transparency.
Additionally, the ConvergEx ADR desk will provide guidance on headroom, foreign ownership and corporate actions.
“Opening Korea affords our diverse customer base access to another unique source of local liquidity,” said Andrew Levine, managing director and head of ConvergEx’s ADR business. “Whether this technology is being used by wrap accounts or institutional buy‐ and sell‐side customers, our innovative ADR products and ADR Desk make it simple to invest in a growing number of emerging markets.”
ConvergEx powers its ADR capabilities by leveraging advanced global equity execution and clearing technology.
Customers are able to execute conversion trades through any OMS or EMS.
The ConvergEx ADR Desk offers a comprehensive suite of patented electronic ADR execution tools designed to enhance daily workflow while sourcing deeper global liquidity for ADR trades and conversions. ConvergEx’s dedicated 24‐hour ADR desk gives customers access to around‐the‐clock support.