BNY ConvergEx Group, a leading provider of global agency brokerage and investment technology solutions, is launching a new trading desk dedicated to providing complete coverage of all major dark pools. The new Dark Desk will serve as a utility for ConvergEx's global sales trading business, by enabling it to better leverage dark liquidity execution opportunities for clients and navigate the plethora of dark pools now available. Through its enhanced dark liquidity execution capabilities, the Dark Desk serves as a resource for information on non-displayed liquidity.
Although the recent proliferation of dark pools has resulted in numerous positive opportunities for traders, the resulting fragmentation has made the process of finding liquidity in a timely manner extremely complicated, says the firm. The ConvergEx Dark Desk streamlines this process by serving as a single point of entry for access to every major dark liquidity pool with knowledge of the different characteristics of each pool. The Dark Desk can also help clients determine the best destination for a particular industry group or market cap size, and thereby improve the probability of finding a match, says Joseph M. Velli, chairman and chief executive officer of BNY ConvergEx Group, which provides global institutional agency brokerage and investment technology solutions to institutional clients worldwide.