Agency brokerage and technology provider BNY ConvergEx has integrated its ConvergEx Cross block crossing system with software developer Townsend Analytics’ RealTick execution management system (EMS).
ConvergEx Cross will be directly embedded in the RealTick EMS, allowing
users to integrate the ConvergEx Cross into their daily trading workflow.
According to BNY ConvergEx, the integration will help to increase potential crossing opportunities by adding buy-side flow from entitled RealTick clients to the agency liquidity from ConvergEx’s institutional, transition, program/portfolio and wholesale desks, Eze Castle clients, Pershing order flow and other electronic trading clients.
Eze Castle, a developer of trading technology, is a subsidiary of BNY ConvergEx. Pershing, a provider of outsourced execution, clearing, settlement and custody services, is a division of Bank of New York Mellon, BNY ConvergEx’s parent.
“Integrating the ConvergEx Cross with the RealTick EMS will immediately enhance the liquidity available to clients of both firms,” said Joseph M. Velli, chairman and CEO, BNY ConvergEx Group, in a statement. “By embedding our crossing network directly into the RealTick EMS blotter, we have combined what had traditionally been two different systems into one unified platform, resulting in increased workflow efficiencies.”