BNY ConvergEx signs Townsend Analytics as distribution partner
13 July 2007 | 1846 views | 0
Source: Townsend Analytics
Townsend Analytics, a leading provider of multi-broker, multi-asset, multi-currency, and multi-route electronic trading solutions for the global capital markets has been selected as a preferred distribution partner by BNY ConvergEx Group.
Under the terms of the agreement, the firms have agreed to supply clients with direct access to ConvergEx's advanced suite of liquidity management technologies, which were designed to provide clients with the tools they need to help manage liquidity and better leverage opportunities in today's constantly evolving marketplace. The ConvergEx product offering includes a set of global performance enhancing algorithms, a comprehensive set of advanced DMA order types, the VortExSM dark liquidity pool, and Perform-ExSM, a recently launched transaction cost analysis platform.
Using RealTick's sophisticated order types and routing functionality, clients of both firms will be able to send orders for global cash equities and equity options directly to ConvergEx's global agency trading desk for execution.
"We're excited to partner with RealTick and be in a position to leverage Townsend's connectivity with the global institutional buy-side trading community," stated Carey S. Pack, President, BNY ConvergEx Execution Solutions. "Adding ConvergEx's suite of liquidity management technologies to the RealTick EMS will extend the reach of our product distribution capabilities and provide our clients with more execution alternatives."
"We are pleased to have BNY ConvergEx on board as a welcome addition to our global multi-broker network," comments Jeff Wecker, Chief Executive Officer of Townsend Analytics. "Their reputation as a leading global agency broker is well known and respected. Direct access to ConvergEx's execution services via our suite of trading products is consistent with Townsend's goal to provide connectivity to major executing broker dealers from a single trading environment," Wecker adds.
The new connectivity with RealTick allows ConvergEx to accept multi-broker order flow from Townsend Analytics' institutional client base in 94 countries and territories around the world.