ConvergEx Group, LLC

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ConvergEx LLC
ConvergEx.jpg
Founded October 2006
Headquarters New York
Key People Joseph M. Velli, Chairman and CEO; Eric Noll, President
Employees 600
Website www.convergex.com/

ConvergEx Group LLC, formerly BNY ConvergEx Group, is a provider of global agency brokerage and investment technology. The registered broker-dealer specializes in derivatives execution management technology and brokerage services for listed options and equities.

History

BNY ConvergEx Group was formed in October 2006 from the union of BNY Mellon Securities Group and Eze Castle Software.[1] In November 2011, the BNY moniker was dropped, and the company became known as ConvergEx Group LLC.

From 2007-2011, the company made several key acquisitions, including options technology group LiquidPoint (2007), Cogent Consulting (2009), NorthPoint Trading Partners (2009), LDB Consulting and RealTick, a multi-broker, cross-asset provider of execution management systems which the company purchased in December of 2010 from Barclays Bank.[2]

ConvergEx filed for a $400 million IPO in May 2011 and updated the filing in June 2011, but in June 2013 the company withdrew the filing, telling the SEC it had "determined not to proceed with the offering contemplated by the Registration Statement at this time." [3]

In January of 2013, ConvergEx Holdings signed an agreement to sell its RealTick and Eze Castle software platforms to an affiliate of private equity firm TPG Capital. [4]

Key People

References

  1. Our Story. BNY ConvergEx.com.
  2. ConvergEx to buy RealTick. Securities Technology Monitor.
  3. ConvergEx Pulls IPO After Two Years of Silence. The Wall Street Journal.
  4. What Does the Sale of Eze Castle, RealTick OMS/EMS Platforms Mean for the Buy Side?. Advanced Trading.