Convergex Taps Jon Simblist as the Managing Director of Its Options Team

Convergex, an agency-centric brokerage and trading related services provider, has appointed Jon Simblist to its Options team as its newest Managing Director, according to a Convergex statement.

In his new role as the Managing Director of Convergex’s Options Team, Mr. Simblist will help oversee the group’s Buy-Side Buy-Side The buy-side is comprised of firms in the financial industry that purchase securities and are accompanied by account investment managers, pension funds, and hedge funds.The buy-side is composed of those that buy and invest large sums of securities with the intention of generating a lucrative return or have their funds managed. The Buy-Side ExplainedIn terms of Wall Street, the buy-side includes investment institutions that purchase securities, stocks, or other financial instruments with the aim The buy-side is comprised of firms in the financial industry that purchase securities and are accompanied by account investment managers, pension funds, and hedge funds.The buy-side is composed of those that buy and invest large sums of securities with the intention of generating a lucrative return or have their funds managed. The Buy-Side ExplainedIn terms of Wall Street, the buy-side includes investment institutions that purchase securities, stocks, or other financial instruments with the aim Read this Term institutional sales capabilities, whilst focusing on options trading strategies.

Mr. Simblist is an established industry veteran who joins Convergex with a lengthy resume in options trading, technology and sales. He joins Convergex from Instinet where he worked as its Head of Electronic Derivative sales.

According to Ben Londergan, Executive Managing Director of Options Trading and Technology at Convergex, in a recent statement on the appointment, "We are thrilled to have Jon join our options team as he is widely known and respected within the options industry and his knowledge and experience will be immensely beneficial as we continue to expand our footprint in this key marketplace.”

"Convergex's options platform is one of the most robust in the industry as our offerings include Equities Equities Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Read this Term, clearing, routing, high touch, and soft dollar capabilities and Jon will be instrumental in pushing forward Convergex's new options offerings and technology enhancements," he added.

Back in July, Convergex brought in Frederick Arnold as its Chief Financial Officer (CFO). Mr. Arnold has since been tasked with the oversight of all Convergex’s global financial operations – the appointment also saw him added to the firm’s Executive Committee.