ConvergEx Group has announced that the United States Patent and Trademark Office has issued United States Patent Number 7,912,779 to LiquidPoint for its technologies relating to stock and index option price improvement.
The patent covers the proprietary technology, systems and methods of trading securities in which an order is received, the contra order is identified or generated and the contra order is sent to a market for execution in order to achieve price improvement.
"This patent is a great achievement for LiquidPoint. These now patented processes are the reason we got into this business in the first place 12 years ago, to create a more refined and automated method for liquidity providers to deliver price improvement to options customers," said Anthony Saliba, chief executive officer of ConvergEx's LiquidPoint. "This patent approval is yet another example of our commitment to provide exceptional technologies for the benefit of our clients."