Source: BNY ConvergEx
Aqua, the alternative trading venue for block liquidity and BNY ConvergEx Group, a leading provider of global agency brokerage and investment technology solutions, announced today the Eze Castle Software order management system (OMS) has completed systems integration with Aqua.
The arrangement now provides Eze OMS clients with access to new block liquidity featuring a breakthrough method of order interaction with an unprecedented degree of information security.
"Aqua has responded to the widespread demand among institutional equity traders for seamless and anonymous access to new block liquidity," said Kevin Foley, Aqua CEO. On any given day, Aqua can receive firm, executable bids and offers submitted by more than 100 participating brokers, narrowcasting them to buy-side participants with the option - but not the obligation - to trade. The model creates linkages that facilitate block trading between brokers and buy-side firms that haven't found each other using traditional methods.
"Aqua's guiding principle is simple," continued Mr. Foley. "Eliminate the information leakage and you make it both safe and convenient to reach for new block liquidity in places you might not have accessed previously."
"We are excited to announce the addition of Aqua as a new integrated liquidity partner," said Tom Gavin, CEO of Eze Castle and Director of BNY ConvergEx Group. "Our clients rely on the Eze OMS to simplify and manage their daily investment and trading processes, including integrated access to key liquidity providers in the marketplace."