BNY ConvergEx unveils dark pool trading desk

Agency broker BNY ConvergEx has launched a new trading desk designed specifically to target dark pool liquidity.
By None

Agency broker BNY ConvergEx has launched a new trading desk designed specifically to target dark pool liquidity.

The Dark Desk will serve as a utility for ConvergEx’s global sales trading business to exploit dark liquidity execution opportunities for clients and help them to navigate through the plethora of dark pools.

ConvergEx believes that although the recent growth in the number of dark pools has resulted in opportunities for traders, finding liquidity in a timely manner can be complicated. The Dark Desk is designed to streamline this process.

The Dark Desk can also help clients determine the best destination for a particular industry group or market cap size, according to ConvergEx, improving the probability of finding a match.

“One of ConvergEx’s strongest selling points is the combination of our conflict-free, agency posture and our innovative trading capabilities, which means that clients trust us to serve as an extension of their trading desks and count on us to actively source all major markets and centres of liquidity,” said Joseph Velli, chairman and CEO of BNY ConvergEx group in a statement. “The Dark Desk adds yet another layer to the extensive execution capabilities that we offer.”

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