Algorithmic Trading news articles - BNY Brokerage Provides Access to Trading Algorithms through Bloomberg Professional Service
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BNY Brokerage Provides Access to Trading Algorithms through Bloomberg Professional Service
BNY Brokerage, a subsidiary of The Bank of New York, has integrated its algorithmic trading tools with the Bloomberg Professional(R) service.
The integration allows Bloomberg users to access BNY Brokerage's proprietary algorithmic trading strategies directly through Bloomberg's Execution Management System (EMS) and control the individual parameters of each algorithm. Clients also benefit from the expertise of BNY Brokerage's trading and technology staff, which periodically evaluates the performance and effectiveness of its algorithmic tools to help clients minimize market impact and optimize their trade execution. Bloomberg's EMS reaches more than 260,000 financial professionals in 125 countries.
Carey S. Pack, president of BNY Brokerage Inc., said, "Offering BNY Brokerage's algorithms through Bloomberg reflects our continued commitment to providing our buy-side clients with the widest range of tools, giving them the flexibility and choice in how to work their orders. Our clients already enjoy the benefits of our proprietary algorithms through our unconflicted dedicated agency trading desk, as well as through our direct market access platform, DEx, which is accessible from all of the major order management systems."
Ken Cooper, global business manager for trading systems at Bloomberg, said, "Bloomberg is pleased to help our users consolidate their trading activity by accessing from EMS the tools they value most, such as BNY Brokerage's algorithms. The Bloomberg Professional service offers EMS trading, order analytics, IOI matching engines and real time TCA, tools that add tremendous value to our mutual clients." click here to return to the top of the page