BGC Partners (NASDAQ: BGCP), one of the world's leading inter-dealer brokers, announced today that it has formed a strategic alliance through one of its affiliates*, with BNY ConvergEx Group, a leading provider of global agency brokerage and investment technology solutions.
Through the agreement, BGC Partners can now offer its customers ConvergEx's full line of world-class electronic, portfolio and sales trading capabilities for equities, fixed income and US listed options.
ConvergEx's unmatched liquidity and execution management tools include: the VortExSM dark liquidity pool; ConvergEx CrossSM, a sophisticated block crossing engine; a complete set of performance-enhancing global algorithms; and TactEx, a comprehensive suite of advanced direct market access (DMA) order types for accessing both displayed and non-displayed liquidity.
"We continually strive to expand our offering and introduce new products to address our customers' requirements," said Jean Pierre Aubin, executive managing director and global head of Listed Products at BGC Partners. "Working with ConvergEx, which is one of the most respected companies in the global trading space, we can now offer our customers equities trading in all the key markets globally. ConvergEx's proven investment strategies and anonymous, conflict-free execution capabilities are tremendously attractive to our clients."
"We are thrilled to form this alliance with BGC," said Anthony Blumberg, chief executive officer of ConvergEx Global Markets. "Through one connection to ConvergEx, BGC's clients will be able to seamlessly access over 100 global markets, including 50 electronic markets, and anonymously source deep pools of liquidity."
* Agreement executed with BGC Brokers L.P., an affiliate of BGC Partners, Inc.