BNY ConvergEx Group, a provider of global agency brokerage and investment technology solutions, has made a strategic investment in hedge fund software services provider AIM-TO, the terms of which were not disclosed.
BNY ConvergEx says the investment buttresses its aim of creating a comprehensive suite of investment technology solutions for its buy-side clients. Under the deal, its subsidiary Eze Castle Software, a provider of technology solutions to multi-strategy investment managers with nearly 300 installations of its order management system worldwide, will tightly integrate AIM-TO's core product, data warehouse and risk management system VerusHedge, with the Eze OMS through a real-time API interface, enabling clients to view up-to-the-fill risk analytics and access security master data for multi-asset class instruments.
'Since its inception, BNY ConvergEx has demonstrated its commitment to delivering innovative technology solutions to clients,' says chairman and chief executive Joseph M. Velli. 'Our investment in AIM-TO will give us the ability to leverage their expertise in data management technology to enhance our industry-leading investment technologies to include even stronger risk reporting and data warehouse functions.'
AIM-TO chief executive Stephen D. Casner says: 'We are looking forward to working closely with ConvergEx. Our VerusHedge product is the perfect complement to the Eze order management system. Clients will be able to streamline system interactions and leverage real-time data feeds and analytics directly from the OMS platform.'
AIM-TO offers post-trade management, operations reporting and risk management systems for specialised and multi-strategy hedge funds as well as a data warehouse designed to meet the needs of hedge funds including elevated risk management, operational processing of post-trading activities, daily P&L and performance reporting, counterparty relationship management, and custom software and technology consulting.
BNY ConvergEx Group, part of the Bank of New York Mellon Corporation, offers a diversified suite of services covering liquidity and execution management, investment technologies, transition management, research and commission management, and intermediary and clearing services.
The group consists of BNY ConvergEx Execution Solutions, including BNY Global Transition Management and LJR Recapture Services; LiquidPoint; BNY Jaywalk; ConvergEx Global Markets; Eze Castle Software; Eze Castle Transaction Services; and Westminster Research Associates.