BNY ConvergEx launches liquidity management suite
09 May 2007 | 687 views | 0
Source: BNY ConvergEx
BNY ConvergEx Group, a leading provider of global agency brokerage and investment technology solutions, today announced the launch of a new suite of products designed to provide clients with the tools they need to help manage liquidity and better leverage opportunities in a constantly evolving marketplace.
Rapid advancements in technology as well as changes in market structure and the regulatory environment have made liquidity management the new best-execution paradigm.
The ConvergEx suite of Liquidity Management Technologies was created in response to this new environment and gives clients the ability to gain access to liquidity while minimizing market impact and bringing cost efficiency to transactions. Beginning with the launch of ConvergEx Cross,(SM) a sophisticated block crossing engine, in March and the VortEx(SM) dark liquidity pool in April, the ConvergEx liquidity management offering also includes a complete set of performance-enhancing algorithms, a comprehensive set of advanced DMA order types, enhanced performance measurement tools and an execution management system.
"The ConvergEx combination of execution and technology expertise has uniquely positioned us to launch cutting-edge, client focused solutions like our Liquidity Management Technologies platform," commented Joseph M. Velli, Chairman and Chief Executive Officer of BNY ConvergEx Group. "Bringing this new offering to market just six months after the launch of ConvergEx further underscores the mission of our organization - to be a fast-moving, flexible and conflict-free technology solutions provider committed to partnering with clients to offer customized, innovative technology products and services."
Carey S. Pack, President, BNY ConvergEx Execution Solutions, stated "Today execution is no longer just about price alone, but about enabling our clients to achieve the best possible performance results. Our liquidity management technologies will help buy-side clients address the issues of a fragmented trading environment by quickly and reliably connecting them to the largest pools of liquidity. Importantly, our suite of products is supported by a team of highly skilled and experienced liquidity managers, who function as an extension of our clients' trading desks and provide yet another layer of execution expertise. Going forward, we will continue to add new products to our liquidity management offering as the needs of our clients and the markets continue to change."
Overview: ConvergEx Liquidity Management Technologies
ConvergEx Algorithmic Suite - A comprehensive suite of advanced algorithms designed to meet a broad spectrum of trading strategies, requirements and benchmarks to help traders improve control and maximize performance. A key differentiator of this offering includes IQx,(SM) an intelligent trading logic, overlaying our algorithmic suite which leverages our volume, price and volatility prediction engines.
Perform-Ex - Comprehensive transaction analysis tools for measuring and managing execution costs, including pre-trade, intra-trade and post-trade analytics.
TactEx - Suite of advanced DMA order types. (Launch planned for early summer)
VortEx - Dark liquidity pool that uses a patent-pending process where ConvergEx streaming orders intersect with dynamic IOIs from a broad network of liquidity providers.
ConvergEx Cross - Patent-pending crossing technology offering advanced, customizable functionality for both negotiated and automated crossing.
Sonic - Comprehensive EMS offering direct market access to all major market destinations, algorithmic tools, access to block crossing networks, seamless OMS integration and advanced order routing.