BNY ConvergEx Group expands on Fidessa’s global network

New York, 11th August 2008 - Fidessa group plc (LSE:FDSA) the world leading provider of trading systems, market data and global connectivity, today announced that BNY ConvergEx Group, a leading provider of global agency brokerage and investment technology solutions, has expanded its offering on Fidessa's network to include: DMA, care order, algorithmic trading solutions and access to ConvergEx Cross SM.

The full suite of ConvergEx services are now available through the Fidessa trading platform, Fidessa LatentZero EMS Workstation, Minerva OEMS or via Fidessa's global FIX connectivity network, which provides access to 310 brokers, 1800 buy-sides and 100 venues worldwide.

ConvergEx's algorithms are available immediately in North America, Europe, and Asia and include: VWAP, TWAP, POV, Initiation Price, IQx, Scaling, and Closing Price, as well as TactEx, which is ConvergEx's suite of advanced DMA order types. Each algorithm is designed to help users track market sensitivity, monitor marketplace changes and nuances, and dynamically optimize performance and minimize market impact.

In addition, Fidessa users can now access ConvergEx CrossSM, which is ConvergEx's block crossing system that brings together unique institutional, agency-only order flow to provide anonymous execution at the mid-point with natural buy-side contraparties and zero market impact.

Craig S. Lax, Executive Managing Director and Head of Global Electronic Trading, BNY ConvergEx Group, commented, "Integrating our global algorithms into Fidessa's global connectivity network is a great opportunity to expand our exposure to a new segment of the institutional buy-side trading community. We are very excited to partner with Fidessa and look forward to continuing to build our relationship with them."

Martin Hakker, EVP Marketing at Fidessa adds, "Our clients are continually searching for additional sources of liquidity, so it's our pleasure to have BNY ConvergEx on board our global network. Customers will also benefit from BNY ConvergEx's extensive range of algorithms which allow for smarter and faster trading in today's increasingly challenging landscape."

Fidessa's global, broker-neutral connectivity network provides a fully managed, robust solution for clients wishing to route order flow to a variety of liquidity destinations. Typical uses of the network include buy-side to sell-side connectivity and broker-to-broker connectivity to support non-member trading across numerous markets.

In 2008 alone, Fidessa's global connectivity network has increased the number of connections it serves by 30% while message throughput has grown by around 37% to over 130 million messages a month.

About BNY ConvergEx Group

BNY ConvergEx Group, LLC provides global institutional agency brokerage and investment technology solutions to institutional clients worldwide. The Company's key business lines - Liquidity and Execution Management, Investment Technologies and Intermediary and Clearing Services - focus on a broad array of services designed to deliver a comprehensive, integrated platform of performance-driven, global multi-asset class trading capabilities.

BNY ConvergEx Group is comprised of the following businesses: BNY ConvergEx Execution Solutions LLC (member NYSE/FINRA/SIPC), including BNY Global Transition Management and LJR Recapture Services; LiquidPoint, LLC (member CBOE/SIPC); Eze Castle Transaction Services LLC (member FINRA/SIPC); Westminster Research Associates LLC (member FINRA/SIPC); G-Trade Services LLC (member FINRA/SIPC); BNY Jaywalk LLC; ConvergEx Global Markets Ltd. and Eze Castle Software LLC. BNY ConvergEx Group is an affiliate of The Bank of New York Mellon Corporation. (NYSE: BK). Additional information is available at

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