BNY ConvergEx widens OMS partner network for algorithmic trading

Source: BNY ConvergEx Group

BNY ConvergEx Group, a leading provider of agency brokerage and investment technology solutions, announced today that the integration of its sophisticated Feats algorithmic trading tools with premier order management system (OMS) providers continues to expand as more partners are added to its growing network.

Current integration partners include Eze Castle Software, Advanced Financial Applications, Advent Software, Charles River Development and Linedata Services.

Through its Financial Engineering & Advanced Trading Solutions (Feats) unit, BNY ConvergEx Group has successfully accelerated the development of innovative, next-generation trading tools that help traders improve performance, limit market impact, and devise passive or aggressive trading strategies. The integration with leading OMS providers gives clients a new choice for accessing BNY ConvergEx Group's Feats algorithmic trading strategies, while enabling them to control the specific parameters of each algorithm. Clients can now choose to go directly through their order management system or through Sonic, BNY ConvergEx Group's premier direct market access platform.

Clients also benefit from the expertise of BNY ConvergEx Group's trading and technology staff, which continuously evaluates the performance and effectiveness of its algorithmic tools to ensure minimal market impact, optimal trade execution and effective order flow management. BNY ConvergEx Group provides superior customer support, sophisticated trading knowledge and ongoing consultative services to help clients improve performance and navigate through the electronic trading environment as efficiently as possible.

Joseph M. Velli, Chairman and CEO of BNY ConvergEx Group, stated, "Integrating our algorithmic trading tools with a growing number of leading OMS providers is an exciting and meaningful opportunity for us. We are continuously enhancing and expanding our technology capabilities to offer sophisticated, advanced trading strategies, such as our high-performance algorithms, that give clients greater flexibility and more control in executing their trades."

Carey S. Pack, Director of BNY ConvergEx Group, commented, "Offering our Feats algorithms through multiple venues is another example of our continued commitment to servicing our clientts. We are dedicated to providing a broad array of superior tools to ensure our clients get the flexibility, expertise and quality they need to trade effectively in today's competitive landscape. We are meeting the challenges of this landscape by being proactive and creative, offering innovative, value-added solutions and anticipating changing client requirements as we move forward. The integration of our algorithms with OMS partners is a way for us to continue to enhance trading performance and productivity for our clients."

BNY ConvergEx Group has plans to expand access to its algorithmic trading tools in the coming months by continuing to add more OMS partners to its network. Plans are also underway to include international, portfolio, and additional domestic algorithms.

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