BNY ConvergEx Group, a provider of agency brokerage and investment technology solutions, has announced the launch of a new suite of products designed to provide clients with the tools they need to help manage liquidity and better leverage opportunities in a constantly evolving marketplace.
The ConvergEx suite of liquidity management technologies was created in response to this new environment and gives clients the ability to gain access to liquidity while minimising market impact and bringing cost efficiency to transactions, the firm says. Beginning with the launch of ConvergEx Cross, a sophisticated block crossing engine, in March and the VortEx dark liquidity pool in April, the ConvergEx liquidity management offering also includes a complete set of performance-enhancing algorithms, a comprehensive set of advanced DMA order types, enhanced performance measurement tools and an execution management system.
"The ConvergEx combination of execution and technology expertise has uniquely positioned us to launch cutting-edge, client focused solutions like our liquidity management technologies platform," comments Joseph M. Velli, chairman and CEO of BNY ConvergEx Group. "Bringing this new offering to market just six months after the launch of ConvergEx further underscores the mission of our organisation - to be a fast-moving, flexible and conflict-free technology solutions provider committed to partnering with clients to offer customised, innovative technology products and services," he adds.
Carey S. Pack, president, BNY ConvergEx execution solutions, states, "Today execution is no longer just about price alone, but about enabling our clients to achieve the best possible performance results. Our liquidity management technologies will help buy-side clients address the issues of a fragmented trading environment by quickly and reliably connecting them to the largest pools of liquidity.