Using a proprietary multi-dimensional sensitivity profile, Abraxas exploits hidden liquidity, favorable price movements and volatility changes, while nimbly navigating difficult markets.
Abraxas is available to clients through all major OMS’, EMS’ 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.
Craig Lax, executive managing director at ConvergEx, said: “Abraxas employs highly adaptable technology and simultaneously uses a mix of different order types to rapidly respond to changing markets. 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.”
Scott Daspin, managing director of global electronic sales at ConvergEx, said: “Abraxas dynamically balances orders among the most desirable market venues to take advantage of liquidity in both the dark and light markets. Its proprietary darkness rating favors the safest pools that minimize information leakage.
“The multi-dimensional trading technology built into Abraxas is designed to know how, when, and especially where to place an order by automatically balancing the importance of a stock’s price, volatility, spread, tick and momentum at any given point in the order’s life cycle.”
