ConvergEx, an investment technology and execution provider, has completed the integration of NorthPoint Trading Partners. ConvergEx acquired Northpoint in December 2009.
ConvergEx has recently embarked on an large-scale expansion of its business line. In November 2009 it acquired CogentConsulting,a software development firm specializinginmanagement solutions for money managers and broker-dealers. December 2009 also saw the acquisition of NYFIX U.S.TransactionServicesbusiness,whichiscomprisedoftheMillenniumAlternativeTradingSystem(ATS)andasuiteofdirectmarketaccess(DMA)andalgorithmictradingproducts.
The intergration will allow Northpoint clients to access to ConvergExs suite of algorithmic strategies; agency liquidity through ConvergExs three internal ATSs; and utilize ConvergExs Eze order management system.
ConvergEx is known throughout the industry for its strong commitment to technological innovation and together we have deep insights into the needs of hedge funds. In fact, just between ConvergExs NorthPoint and Eze OMS businesses, we serve more than a half-trillion dollars of hedge fund assets, said Douglas Nelson, chief executive officer of NorthPoint Trading Partners. By offering a solution for virtually all of our clients needs, from start-up services and capital introduction to advanced execution technologies, we have created a one-stop shop that is truly unique in the marketplace and one that gives our clients a considerable edge.
With the new Integrated Prime Services model, NorthPoint is leading the way in providing fund managers with a truly comprehensive and customizable product that is backed by our high-touch client service, said Michael DeJarnette, president of NorthPoint Trading Partners. In a highly competitive industry, this new model separates NorthPoint from other prime brokerage firms with the extensive services that the NorthPoint and ConvergEx partnership provides.