BNY ConvergEx to set up new UK broker dealer unit

BNY ConvergEx to set up new UK broker dealer unit

BNY ConvergEx is establishing a new broker dealer division in the UK that will house all its European-based businesses and services for the institutional investment community.

BNY ConvergEx says the new broker dealer division - called BNY ConvergEx Ltd - represents the continued expansion of its European franchise.

ConvergEx's European product offering targets global investment managers, pension schemes and funds, hedge funds and broker dealers. Services include electronic execution services in over 50 markets including sophisticated DMA and global algorithms and commission management services.

Commenting on the move, Gareth Jones, MD, BNY ConvergEx Ltd, says ConvergEx is now ideally positioned to better serve its European client base with products that will enable clients to benefit from "solutions in electronic and broker-assisted trading, international algorithms, transition management and commission management, all on an agency basis".

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