BNY ConvergEx Group, a leading provider of global agency brokerage and investment technology solutions, today announced that it has integrated its ConvergEx CrossSM block crossing system with Townsend Analytics' RealTick execution management system (EMS).
Combining ConvergEx's sophisticated crossing system with one of the premier EMS platforms in the market will help clients of both firms streamline their crossing workflow and further enhance the liquidity available for crossing opportunities.
The ConvergEx Cross will be directly embedded in the RealTick EMS. This allows RealTick users to integrate the ConvergEx Cross into their daily trading workflow, and makes the Cross an extension of the EMS, and not a separate standalone application.
In addition, the integration will help to increase potential crossing opportunities by adding buy-side flow from entitled RealTick clients to the deep agency liquidity from ConvergEx's institutional, transition, program/portfolio and wholesale desks, Eze clients, Pershing order flow and other electronic trading clients.
Joseph M. Velli, Chairman and Chief Executive Officer of BNY ConvergEx Group, commented, "Townsend is an industry leader in providing world-class execution management systems to the institutional investor community, and integrating the ConvergEx Cross with their RealTick EMS will immediately enhance the liquidity available to clients of both firms. By embedding our market-leading crossing network directly into the RealTick EMS blotter, we have combined what had traditionally been two different systems into one unified platform, resulting in increased workflow efficiencies."
"The ability to deliver broker-neutral solutions for global electronic trading has always been the hallmark of RealTick's open architecture," states Townsend Analytics CEO and CIO Stuart Breslow. "Now by integrating the ConvergEx Cross within RealTick, we are also streamlining our clients' workflow and increasing crossing opportunities for block trades."