BNY ConvergEx Group Launches No Fee Electronic Options Routing

BNY ConvergEx Group, LLC, a provider of global agency brokerage and investment technology applications, launches FBW Direct, a new connection service for managed options orders. This new trading facility uses ConvergExs LiquidPoint technology to give off floor customers and firms

By None

BNY ConvergEx Group, LLC, a provider of global agency brokerage and investment technology applications, launches FBW Direct, a new connection service for managed options orders. This new trading facility uses ConvergExs LiquidPoint technology to give off-floor customers and firms the ability to electronically route options orders of all sizes to the exchange-based Floor Broker Workstations (FBW) for the first time.

FBW Direct greatly enhances the efficiency of sending orders to the Floor Broker Workstation by increasing the speed of the routing process and eliminating the need for multiple order entries. Order status and fill reports can also be sent to clients electronically, and as fills occur, can be integrated into mid and back office feeds for real time booking and risk analysis.

“FBW Direct continues LiquidPoints focus on automating options trading work flow and developing tools to enhance the options trading experience,” says Anthony J. Saliba, chief executive officer, LiquidPoint. “Many of our clients have trading desks that rely heavily on floor brokers. This program enhances that relationship at no cost to the users and provides a mechanism to help satisfy compliance obligations and internal audit trails.”

Clients can connect to the Floor Broker Workstation via a LiquidPoint application or through a FIX connection. Clients that are only interested in receiving fills and order status can make use of the Remote Order Status Window. All order types are supported by the program, including Single Legs, Spreads, Crosses, Facilitations and Solicitations.

LiquidPoint, LLC, a BNY ConvergEx Group member company, is an agency-based registered broker-dealer that specializes in derivatives execution management technology and brokerage services for listed options and equities. LiquidPoint provides a total solution for todays dynamic and diverse trading requirements, combining sophisticated trading tools with its commitment to superior order execution services and focused customer support.

D.C.

«