ConvergEx, a global provider of investment and execution technology solutions to institutional clients, has completed the acquisition of NYFIX’s US transaction services business. It is comprised of the millennium alternative trading system (ATS) and a suite of direct market access (DMA) and algorithmic trading products.
Following the completion of acquisition millennium became ConvergEx’s third in-house ATS and will be independently operated alongside the VortEx ATS and ConvergEx’s dark block trading platform, ConvergEx Cross.
As previously announced, Brian Carr, former head of NYFIX’s US transaction services business, has joined ConvergEx in a senior management position and will be responsible for the day-to-day operations of the business.
Joseph Velli, chairman and CEO of ConvergEx Group, said: “With the close of this acquisition, ConvergEx now offers one of the largest and most diverse sources of agency non-displayed liquidity on the Street. We continue to invest heavily in expanding and enhancing our capabilities and Millennium’s ultra-fast and high-tech architecture was ideally suited to complement ConvergEx’s execution technologies.”
