Fidessa group, a provider of trading systems, market data and global connectivity, has announced that technology solutions provider and agency brokerage BNY ConvergEx is to expand its technological offerings on Fidessa’s network.
BNY ConvergEx’s direct market access, care order and algorithmic trading solutions will be accessible via the Fidessa trading platform, LatentZero EMS Workstation, Minerva OEMS and the firm’s global FIX connectivity network.
ConvergEx's algorithms are available immediately in North America, Europe, and Asia. The accessible strategies include VWAP, TWAP, POV, Initiation Price, IQx, Scaling, and Closing Price, as well as TactEx, ConvergEx's suite of advanced DMA order types.
In addition, Fidessa clients will have access to ConvergEx’s block crossing system for agency-only orders, ConvergEx Cross.
"Integrating our global algorithms into Fidessa's global connectivity network is a great opportunity to expand our exposure to a new segment of the institutional buy-side trading community,” said Craig S. Lax, executive managing director and head of global electronic trading, BNY ConvergEx Group, in a statement. “We are very excited to partner with Fidessa and look forward to continuing to build our relationship with them."
"Our clients are continually searching for additional sources of liquidity, so it's our pleasure to have BNY ConvergEx on board our global network,” added Martin Hakker, executive vice president of marketing at Fidessa. “Customers will also benefit from BNY ConvergEx's extensive range of algorithms, which allow for smarter and faster trading in today's increasingly challenging landscape."