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June 19th, 2008 - BNY ConvergEx Group, LLC, a leading provider of global agency brokerage and investment technology solutions, today announced that it has attained record-breaking equity trading volume growth and market share through May 2008.
BNY ConvergEx Group Announces Record-Breaking Trading Volume Growth
The increase in volume occurred across a number of different market centers and other execution venues, and is best demonstrated by the doubling of ConvergEx’s average daily volume at the New York Stock Exchange since the first of the year. ConvergEx also tripled its percentage of NYSE market share during the same time frame, which has led to a significant move up the NYSE’s Broker Volume Top 10 rankings. The NYSE Broker Volume Top 10 provides a way to identify the leaders in equity orderflow and lists the top 10 NYSE member firms by volume.
Carey S. Pack, Chief Executive Officer, BNY ConvergEx Execution Solutions: “Clients have become increasingly cognizant of the advantages of our unique agency trading model because it allows us to put their needs first and remain on firm ground no matter the current volatility of the markets"
Carey S. Pack, Chief Executive Officer, BNY ConvergEx Execution Solutions, stated “Clients have become increasingly cognizant of the advantages of our unique agency trading model because it allows us to put their needs first and remain on firm ground no matter the current volatility of the markets. We have integrated advanced trading technology with the knowledge and expertise of our sales traders to create an execution platform that will help clients reach their investment objectives, and it is gratifying to see that message resonating throughout the marketplace.”
“BNY ConvergEx Group's commitment to customers and to providing best execution of their orders has been a catalyst to the firm's growing presence in the industry and on the NYSE," said Larry Leibowitz, Group Executive Vice President and Head of U.S. Execution & Global Technology, NYSE Euronext. "ConvergEx has embraced change and new technology which, coupled with its high-touch, high-tech service model, positions the firm very well in an increasingly competitive marketplace. We value ConvergEx's increased participation on the NYSE, which adds even more liquidity to the primary market for NYSE-listed issues."
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