BNY CONVERGEX, CREDIT SUISSE LINK DARK LIQUIDITY TRADING SERVICES

Posted May 16, 2008

NEW YORK – Agency brokerage and investment technology solutions provider BNY ConvergEx Group LLC has linked its VortEx dark liquidity pool with Credit Suisse’s Advanced Execution Services (AES) CrossFinder.

“Credit Suisse is one of the leading liquidity providers in the marketplace, and joining our respective alternative trading systems will immediately enhance the liquidity that we can provide to our buy-side customers,” says Carey S. Pack, Chief Executive Officer, BNY ConvergEx Execution Solutions.

The VortEx dark liquidity pool uses a patent-pending process to cross ConvergEx streaming and resting orders internally or with dynamic IOIs [indications of interest] from a broad network of external liquidity providers. VortEx aims to minimize information leakage and latency by only interacting with liquidity providers that are ready to trade.

Credit Suisse AES launched CrossFinder in 2004. The system is live in US, European and Asian markets, and provides price improvement, anonymity and reduced market impact for users worldwide.

“We are excited about adding BNY ConvergEx Group’s VortEx as a destination for AES strategies,” says Dmitri Galinov, Director, Credit Suisse AES. “Our accord with ConvergEx underscores Credit Suisse’s commitment to provide more liquidity to customers in the easiest manner possible.”