BNY ConvergEx Group, a provider of agency brokerage and investment technology services, has integrated its ConvergEx Cross block crossing system with Townsend Analytics’s RealTick execution management system.
Combining ConvergEx’s crossing system with one of the premier execution management system (EMS) platforms in the market will help clients of both firms streamline their crossing workflow and further enhance the liquidity available for crossing opportunities, said BNY ConvergEx.
The ConvergEx Cross will be directly embedded in the RealTick EMS. This allows RealTick users to integrate the ConvergEx Cross into their daily trading workflow, and makes the Cross an extension of the EMS, and not a separate standalone application.
In addition, the integration will help to increase potential crossing opportunities by adding buy-side flow from entitled RealTick clients to the deep agency liquidity from ConvergEx’s institutional, transition, program/portfolio and wholesale desks, Eze clients, Pershing order flow and other electronic trading clients, according to BNY ConvergEx.
Joseph Velli, chairman and CEO of BNY ConvergEx Group, said: Townsend is an industry leader in providing world-class execution management systems to the institutional investor community, and integrating the ConvergEx Cross with their RealTick EMS will immediately enhance the liquidity available to clients of both firms. 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.