banner1 Skip Navigation LinksHome > Liquidity and Execution Management > Liquidity Management Tools > ConvergEx Cross<div class="super">SM </div>

ConvergEx Cross
SM
 - block crossing technology

Trade on your own terms.                                                                                                                                                                                                             The ConvergEx Cross is an innovative solution that provides anonymous execution at the midpoint with natural buy-side contraparties, providing the benefits of zero market impact trading and price improvement that only pure block crossing can offer — all on your own terms.

Negotiated orders.

Trade anonymously in deep pools of liquidity without revealing sensitive information. Currently, the ConvergEx Cross automatically polls the Eze OMS blotter for interest and identifies potential opportunities to negotiate a block cross without giving “free looks.”  Check with us frequently, as we will be deploying our polling strategy to other OMSs on an ongoing basis moving forward.

Designated orders with ConvergEx CrossBoard.                                                                                                                         

Using the Cross’s designated order functionality, you can increase execution probability by resting an order for a given amount of shares and for a specific time period to find a natural cross. 

The ConvergEx CrossBoard gives you the ability to anonymously send and receive symbol-only indications (SOIs) to the ConvergEx Cross trader community.  The CrossBoard provides valuable insight into upstairs liquidity, offering you the opportunity to react to undisplayed committed liquidity or attract liquidity to you when it’s hard to find.  The CrossBoard is updated dynamically and color coded to highlight activity changes to help keep you informed and ready to act.

 

CrossBoard - August 2008

 

Leverage our liquidity.

The natural liquidity found within BNY ConvergEx Group brings together unique institutional, agency-only order flow that is difficult to find in other crossing networks.  Domestic equity shares traded by ConvergEx’s institutional, transition, program/portfolio and wholesale desks, combined with direct participation from Eze Castle Software’s clients and Pershing’s committed block flow, creates substantial natural crossing opportunities found nowhere else.

Information is power

We provide a Monthly Liquidity Analysis report on the top 25 symbols displaying activity in the ConvergEx Cross.  These useful and easy-to-understand statistics help clients determine execution strategies by analyzing activity in four categories:

  •  - Most frequently traded symbol according to market cap
  •  - Largest executions as a percentage of average daily volume
  •  - Largest crosses measured by execution size

 - Highest volume symbols as measured by total aggregate shares crossed

Click here to view the latest report.

To learn more about the ConvergEx Cross, please call 866-224-4407 or 212-468-8470.