News & Events
Direct Access Partners, LLC Announces the Launch of ETF Liquid
Download the PDF- Proven international team offers pricing and trading of international ETFs closer to true Net Asset Value
- New division enhances the firm’s international trading capability – now offers 24/6 coverage
NEW YORK, N.Y., January 12, 2012 – Direct Access Partners, LLC, (DAP) the customer-focused, multi-asset trading partner to a diverse range of clients including pension funds, mutual funds, hedge funds and RIAs, today announced the launch of ETF Liquid. ETF Liquid provides a centralized source of aggregated liquidity in the overnight market for Exchange Traded Funds. ETF Liquid offers enhanced pricing and greater market depth for Direct Access Partners’ institutional client base. The group acts in an agency-only capacity ensuring conflict-free, anonymous trading.
The new division provides DAP’s buy side customers enhanced trading options for international ETFs. During volatile periods ETFs that reflect international markets trade purely on the basis of US domestic supply and demand – not on the underlying NAV of the component equities. ETF Liquid permits our institutional clients including mutual funds and hedge funds to trade ETFs in closer relationship to the movement of the underlying equities.
Gerry O’Donnell, who will co-lead the new division commented, “As the ETF market expands, ETF Liquid fills a clear need for institutional customers trying to gain international exposure or hedge positions at an NAV that reflects the market – not the current US market environment. For example, ETF Liquid provides liquidity in an agency capacity in off-market hours to fill "away" limit orders that may be left as GTC orders, and filled during closed US hours when the underlying ETF basket can be priced efficiently to reflect market conditions, and may move into line.”
Ben Chinea, CEO of Direct Access Partners, LLC added “ Our unique platform will enhance ETF Liquid in non-U.S. market hours and assist our institutional client base implement a wide range of hedging strategies as well as the ability to take advantage of overnight volatility, which often times can be overlooked when the U.S. market resumes the following day.”
The team will be headed by Gerry O’Donnell and Matt Brown. Both professionals have 15 years experience each in the listed, OTC and electronic trading markets executing orders in a wide range of financial instruments.
About Direct Access Partners, LLC:
Direct Access Partners, LLC is a customer focused, multi-asset class trading partner to a broad range of clients. Direct Access Partners clears and executes in 115 international markets providing anonymity through a diverse set of high-touch and electronic execution options. Direct Access Partners has offices in New York, Boston, Miami and a significant presence on the NYSE trading floor.
The firm has a strong operational foundation and technology platform and provides a wide range of trading-related services including global prime service, corporate access, independent research and commission management. The Capital Alternatives Group offers hedge fund clients a unique, integrated capital introduction and capital raising solution. The high-touch/high-tech approach powered by the firm’s entrepreneurial spirit characterize Direct Access Partners’ successful independent brokerage model.
Direct Access Partners received Minority Business Enterprise (MBE) status in 2007 and has been certified by numerous states, county and city pension plans as well as active membership in numerous regional minority business councils.
For more information about Direct Access Partners, please refer to our website at www.daptrading.com.
Contact:
Richard Fremont
(212) 850-8869