BNY ConvergEx Group, LLC, a provider of global agency brokerage and investment technology applications, designed new smart order routing platform to provide better execution and open clients the access to a wide set of liquidity from the primary markets as well as Europe’s new trading venues.
In response to the growth of new liquidity pools and multilateral trading facilities (MTFs) within Europe ConvergEx releases global smart router to provide greater trading anonymity, increase execution speed and reduce market impact by taking advantage of greater depth at all price points over multiple venues.
The implementation of MiFID has led to the creation of several new trading venues in Europe that have further fragmented markets and made finding liquidity difficult for clients, says Joseph M. Velli, chairman and chief executive officer, BNY ConvergEx Group.
As market fragmentation continues unabated and the number of execution venues increases exponentially, the need for a smart order router with the speed and advanced trading intelligence of our platform has never been more important, says William Capuzzi, president, BNY ConvergEx Groups G-Trade Services LLC.
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