May 8th, 2008 - BNY ConvergEx Group, LLC, announced that it has been voted as the top- rated algorithmic provider in three separate categories in The Trade Magazine’s 2008 Algorithmic Trading Survey Broker Roll of Honour. ConvergEx’s global algorithmic trading services were chosen as the best in the following categories: Execution Consistency, Reducing Market Impact, and Cost.

BNY ConvergEx Group Named Top Provider in The Trade’s 2008 Global Algorithmic Trading Awards

The Trade’s 2008 Algorithmic Trading Survey Broker Roll of Honour recognizes excellence in the delivery of algorithmic trading solutions. The Trade polled traders from over 150 buy-side firms to find the top algorithmic trading providers in fifteen different categories.

ConvergEx was top rated in three of the categories that voters considered among the most important to their algorithmic trading. According to The Trade, traders placed great importance on the ability of algorithms to reduce market impact and ensure execution consistency, two of the categories in which ConvergEx ranked number one.

Joseph M. Velli, Chairman and Chief Executive Officer of BNY ConvergEx Group: “Having ConvergEx recognized as the top global algorithmic provider in three categories that are so critical to the trading activities of our clients"

Joseph M. Velli, Chairman and Chief Executive Officer of BNY ConvergEx Group, commented, “Having ConvergEx recognized as the top global algorithmic provider in three categories that are so critical to the trading activities of our clients is a great honor and further proof that our focus on the development of advanced trading solutions is gaining traction in the market.”

"Global traders deserve algorithms that optimize performance across all available electronic markets,” stated Gary Ardell, Managing Director and head of BNY ConvergEx Group’s Financial Engineering and Advanced Trading Solutions (FEATS) unit. “ConvergEx specializes in making sure that whether a client is executing against initiation price in Hong Kong, VWAP in Japan, the Close in Australia, or simply tactically POV trading in London, they get the consistent, reliable, and precise performance that they deserve."

BNY ConvergEx Group’s global electronic trading services are offered in over 50 markets worldwide, with the most recent additions being Thailand, Cyprus and Malaysia. In the US, ConvergEx provides access to at least 50 different liquidity sources, including exchanges, ECNs, and ATSs. ConvergEx also operates two alternative trading systems – the ConvergEx CrossSM for sophisticated block crossing functionality, and VortExSM for the aggregation of dark liquidity and streaming order flow. The ConvergEx global electronic trading offering also includes a suite of global algorithms and TactEx, a unique DMA tool for accessing both displayed and non-displayed liquidity in the US.

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