BNY ConvergEx Group, a provider of global agency brokerage and investment technology solutions, has announced the integration of its ConvergEx Cros
BNY ConvergEx Group, a provider of global agency brokerage and investment technology solutions, has announced the integration of its ConvergEx Cross block crossing system with Townsend Analytics’ RealTick execution management system.
Combining ConvergEx’s crossing system with what the firms describe as one of the premier execution management platforms in the market will enable clients of both firms to streamline their crossing workflow and enhance the liquidity available for crossing opportunities.
The ConvergEx Cross will be directly embedded in the RealTick EMS, allowing RealTick users to integrate ConvergEx Cross into their daily trading workflow and making it an extension of the EMS, not a separate stand-alone application.
The integration will help to increase potential crossing opportunities by adding buy-side flow from RealTick clients to the agency liquidity from ConvergEx’s institutional, transition, programme/portfolio and wholesale desks, Eze clients, Pershing order flow and other electronic trading clients.
“Townsend is an industry leader in providing world-class execution management systems to the institutional investor community, and integrating ConvergEx Cross with RealTick EMS will immediately enhance the liquidity available to clients of both firms,” says BNY ConvergEx chairman and chief executive Joseph M. Velli.
“By embedding our market-leading crossing network directly into the RealTick EMS blotter, we have combined what had traditionally been two different systems into a unified platform, resulting in increased workflow efficiencies.”
Townsend Analytics chief executive Stuart Breslow adds: “The ability to deliver broker-neutral solutions for global electronic trading has always been the hallmark of RealTick’s open architecture. Now by integrating ConvergEx Cross within RealTick, we are streamlining our clients’ workflow and increasing crossing opportunities for block trades.”
BNY ConvergEx provides institutional agency brokerage and investment technology services including liquidity and execution management, investment technologies, transition management, research and commission management, and intermediary and clearing services.
The BNY ConvergEx Group, a subsidiary of Bank of New York Mellon, consists of BNY ConvergEx Execution Solutions, including BNY Global Transition Management and LJR Recapture Services, LiquidPoint, Eze Castle Transaction Services, Westminster Research Associates, G-Trade Services, BNY Jaywalk, ConvergEx Global Markets and Eze Castle Software.
RealTick, a global, multi-broker, cross-asset execution management system, provides real-time market data, news and analytics, trading tools, access to brokers, exchanges and electronic communication network, and risk management tools to institutions, broker-dealers and individual investors. Founded in 1985 and the developer of Archipelago, the first US all-electronic exchange, Townsend Analytics is a wholly owned subsidiary of Barclays Bank.
