The Bank of New York is acquiring privately owned Sonic Trading, a direct access broker with a trading technology division, according to a report in Securities Industry News. The report suggests Sonic will be used by BNY Brokerage – the agency brokerage unit of BNY Securities Group-to help automate trade execution for buy-side clients. BNY Brokerage recently acquired Capital Resource Financial Services to increase its commission recapture business.
Bank Of New York To Acquire Sonic Trading, Says SIN
The Bank of New York is acquiring privately owned Sonic Trading, a direct access broker with a trading technology division, according to a report in Securities Industry News. The report suggests Sonic will be used by BNY Brokerage the agency