BNY ConvergEx Group, LLC, a provider of global agency brokerage and investment technology applications, had record volume on its newly launched crossing system ConvergEx CrossSM.
On May 17, the system crossed a record 5.7 million shares, with an average cross of 21,000 shares.
Separately, VortExSM, a new dark liquidity pool and the latest addition to ConvergEx’s suite of liquidity management technologies, has been gaining momentum. Since its launch in April, VortEx has also recently achieved a milestone, with record executed volume nearing 18 million shares.
“The rapid growth in use of both ConvergEx Cross and VortEx is a testament to the scalability, easy customization, and ability to tap into multiple rich pools of liquidity that are hallmarks of their design,” says Joseph M. Velli, chairman and CEO of BNY ConvergEx Group. “Our focus on the mastery of rapid technology developments and the ability to integrate multiple liquidity management technologies is a key strategic focus of BNY ConvergEx Group.”