BNY ConvergEx Group, LLC, a provider of global agency brokerage and investment technology so, has linked its VortEx dark liquidity pool with Credit Suisses Advanced Execution Services (AES) CrossFinder.
The interface of these two alternative trading systems will help clients of both firms better address the challenge of finding liquidity in todays fragmented equity markets.
BNY ConvergEx Groups combination of execution and technology expertise provides clients with the ability to gain access to liquidity while bringing value and cost efficiency to transactions. VortEx is a dark liquidity pool that uses a patent-pending process in which ConvergEx streaming and resting orders can be crossed internally or with dynamic IOIs from a broad network of external liquidity providers. VortEx creates an aggregated pool of liquidity that minimises information leakage and latency by interacting with only those liquidity providers that are ready to trade.
Launched in 2004, Credit Suisse AES CrossFinder is live in US, European and Asian Markets providing price improvement, anonymity and reduced market impact to clients globally. CrossFinder can be accessed directly or as part of any AES strategy.
“Credit Suisse is one of the leading liquidity providers in the marketplace, and joining our respective alternative trading systems will immediately enhance the liquidity that we can provide to our buy-side customers,” says Carey S. Pack, CEO, BNY ConvergEx Execution Solutions.
“We are excited about adding BNY ConvergEx Groups VortEx as a destination for AES strategies. Our accord with ConvergEx underscores Credit Suisse’s commitment to provide more liquidity to customers in the easiest manner possible,” adds Dmitri Galinov, director, Credit Suisse Advanced Execution Services (AES).