Crdit Agricole Cheuvreux North America, Inc. (“CA Cheuvreux North America”) has added BNY ConvergEx Group’s VortExSM dark pool as a destination accessible via CrossFire, the firm’s non-displayed liquidity sweep algorithm. The addition of VortEx brings CA Cheuvreux North America’s menu of alternative liquidity venues available via CrossFire to 14, further increasing depth of choice and overall access to non-displayed liquidity for CA Cheuvreux North America’s global client base.
“Fragmentation in today’s market, spurred on by an increasing number of new execution venues operating in a non-displayed fashion, has made liquidity navigation a daunting challenge for today’s professional investor,” says Ian Peacock, chief executive officer at CA Cheuvreux North America. “Because of this, we are constantly looking to help our clients access this disparate liquidity efficiently and intelligently, and CrossFire provides them the means to do so. With the addition of VortEx, we now offer clients access to 14 sources of alternative or hidden liquidity through a single algorithm.”
Carey S. Pack, chief executive officer, BNY ConvergEx Execution Solutions, says “We are always looking for new ways to bring increased liquidity into VortEx, and we are very excited about the additional execution opportunities that CA Cheuvreux will bring to our respective clients.”