Source: Advanced Financial Applications
Advanced Financial Applications (AFA), a leading provider of trading technologies to buy and sell side financial organizations, today announced that BNY ConvergEx Group has joined its Sponsored Broker Program.
This new agreement expands upon the previous relationship between the two firms, which provided for ConvergEx's algorithms to be distributed through AFA's IMPACT Pro trade execution and order management system.
IMPACT Pro is a robust Execution Management System/Order Management System ("EMS/OMS") that enables traders to streamline trade workflow from broker-neutral trade execution to order management.
AFA will provide connectivity to ConvergEx's recently launched suite of liquidity management technologies, which includes the VortExSM dark liquidity pool; ConvergEx CrossSM, a sophisticated block crossing engine; Perform-ExSM, a web-based transaction cost analysis platform; a complete set of performance-enhancing algorithms; and TactExSM, which is a comprehensive set of advanced DMA order types. AFA's platform complements the other platforms already available to ConvergEx clients.
Carey S. Pack, President, BNY ConvergEx Execution Solutions, commented: "This partnership with AFA will provide several strategic benefits for both organizations. We are excited to add ConvergEx's suite of liquidity management technologies to AFA's IMPACT Pro because it will broaden the scope of our product distribution capabilities and help our clients implement their trading strategies in a more seamless way."
Said Patrick D. Lynch, AFA's CEO: "We are committed to forging strategic relationships that enable brokers to provide their institutional clients with a combined EMS/OMS trading application, backed by the consultative resources of our firm. We are confident that the relationship with ConvergEx, now expanded to full participation in our Broker Sponsored Program, will mean that they can continue to represent to their clients that technology including AFA's is a key component in ConvergEx's overall offering."