August 12, 2008
BNY ConvergEx Expands on Fidessa’s Global Network
Fidessa, a provider of trading systems and market data, has announced that BNY ConvergEx, a provider of global agency brokerage and investment technology solutions, has expanded its offerings on Fidessa's network to include: DMA, care order, algorithmic trading solutions and access to ConvergEx Cross SM.
The full suite of ConvergEx services are now available through the Fidessa trading platform, Fidessa LatentZero EMS Workstation, Minerva OEMS or via Fidessa's global FIX connectivity network.
In addition, Fidessa users can now access ConvergEx CrossSM, which is the company's block crossing system that brings together institutional, agency-only order flow to provide anonymous execution at the mid-point with natural buy-side contraparties and zero market impact.
Typical uses of the network include buy-side to sell-side connectivity and broker-to-broker connectivity to support non-member trading across numerous markets.
Craig Lax, executive managing director and head of global electronic trading of BNY ConvergEx, said: "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. We are very excited to partner with Fidessa and look forward to continuing to build our relationship with them."