BNY ConvergEx Group, LLC, a provider of agency brokerage and investment technology, was named a top broker for best execution, according to Investment Technology Group, Inc.’s ITG Broker Edge Universe(TM).
ITG Broker Edge Universe is a transaction database of nearly 7 million trades ($3.3 trillion in volume), compiled from data from Investment Technology Group’s investment manager clients.
ConvergEx ranked Number 1 for “Lowest Execution Cost” for small trades (less than 10,000 shares) and in the Top 5 for medium trades (between 10,000 and 50,000 shares). The firm was named a Top 2 broker in “Best Execution” for small trades and a Top 10 broker in medium trades.
ConvergEx was also ranked in the Top 5 for “Lowest Commissions” for both large trades (more than 50,000 shares) and medium trades. In the Specialty Brokers category, ConvergEx ranked in the Top 2 for “Lowest Execution Cost” for small trades and in the Top 5 in “Best Execution” for small trades.
“We are very pleased to once again be recognized as a top broker in ITG’s Broker Edge Universe,” says Carey Pack, chief executive officer, Execution Solutions, BNY ConvergEx.
“We continue to stay committed to serving as an unbiased partner to our clients, not only providing best execution, but also working as an extension of their trading desks. These results are a testament to our expert traders, state-of-the-art technologies and access to a wide range of unique liquidity sources.”
L.D.