New Block Cross Trading Service Starts

March 6, 2007 ( - BNY ConvergEx Group, LLC has launched ConvergEx Cross, a new, patent-pending proprietary block crossing service, offering advanced, customizable functionality for both negotiated and automated crossing.

BNY ConvergEx Group, a provider of agency brokerage and investment technology solutions, says the new offering provides a transparent, cost-effective and enhanced liquidity management environment that brings together buyers and sellers to help move blocks of shares efficiently by accessing both institutional and broker order flow.

ConvergEx Cross is currently available to Eze Castle Software order management system (OMS) clients and through the BNY ConvergEx Execution Solutions trading desks. Integration with other OMS vendors, as well as other connectivity platforms, is planned for the second half of 2007.

Open to both buy- and sell- side participants, ConvergEx Cross enables traders to set default preferences to include or exclude certain types of trading partners and offers the ability to use both negotiated and automated crossing preferences simultaneously.

BNY ConvergEx Group, LLC offers a suite of services providing solutions in trade execution, investment technologies, transition management, commission management, research and wholesale and outsourcing solutions.