CA Cheuvreux North America has added BNY ConvergEx Group’s VortEx dark pool to CrossFire, its non-displayed liquidity sweep algorithm. This partnership brings the number of alternative liquidity venues offered on CrossFire to 14.
“Fragmentation in today’s market, spurred on by an increasing number of new execution venues operating in a non-displayed fashion, has made liquidity navigation a daunting challenge for today’s professional investor,” said Ian Peacock, CEO at CA Cheuvreux North America, in a statement. “Because of this, we are constantly looking to help our clients access this disparate liquidity efficiently and intelligently, and CrossFire provides them with the means to do so.”
Eventually, CA Cheuvreux North America intends to include all venues with significant liquidity within its CrossFire sweep algorithm.
BNY ConvergEx Group’s VortEx is a dark liquidity pool in which ConvergEx streaming and resting orders can be crossed internally or with dynamic indications of interest from a network of external liquidity providers.