“Convergex takes a great deal of pride in making its clients’ interests and service needs of top priority,” says CIO Ann Neidenbach. “We like to tackle the industry’s toughest challenges—from complex trades to complex business solutions. Since regulation changes in 2008, there’s been a proliferation of places to trade. In the US alone, there are over 50 light pool (LIT) and dark markets. This makes it incredibly expensive, complicated, and very difficult for our customers to find best execution. They’re seeking liquidity and trying to figure out the best place to fill their orders. We’re trying to simplify that for them.
“Convergex historically had consisted of several different affiliated companies, which meant that we had silos of trading systems, technology solutions and data. As a result, it was difficult to understand the revenue and profitability for each client across our businesses.”
“My number one objective is to help us improve operational efficiencies, and I’m doing that in three ways. One is a technology roadmap that collapses multiple trading systems into one. The second is leveraging cloud technologies so we can reduce our infrastructure spend. And third is rationalizing all our data and leveraging business intelligence to transform it into information.”