BNY Convergex Preps TCA Tool
FRONT PAGE: CYBER-TRADING TECHNOLOGIES
NEW YORK—BNY Convergex Group, a subsidiary of the Bank of New York, is planning to release a suite consisting of a real-time transaction cost analysis (TCA) tool, a crossing product and several new algorithms in the first quarter of next year.
In June, BNY Securities Group partnered with Eze Castle and private equity firm GTCR Golder Rauner to form BNY Convergex, previously known as BNY Securities Group. The venture received final approval last month and now operates as an agency brokerage
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