ConvergEx Group Upgrades Millennium ATS to New Ultra-Low Latency Environment
NEW YORK, May 22, 2013 /PRNewswire/ -- ConvergEx Group, a leading provider of global brokerage and trading-related services, today announced it has upgraded the infrastructure behind its MillenniumSM ATS to reduce trade latency by an additional 75%. The upgrade is designed to support the needs of ultra-low latency and IOC customers and includes matching engine optimization and connectivity advancements. The firm is currently in the process of transitioning customers onto the new FIX architecture.
"Millennium is known for its pioneering role in dark pool execution, diverse liquidity and high execution quality," said Brian Carr managing director and co-head of Sell-Side Services at ConvergEx Execution Solutions. "This upgrade continues Millennium's long established tradition of excellence and keeps customers at the forefront of execution technology."
Millennium is one of the industry's most comprehensive continuous ATSs in the U.S. equity market, aggregating more than five billion shares of available liquidity in over 6,000 symbols daily. Over 100 broker-dealers access the Millennium ATS every day.
ConvergEx operates two ATSs, Millennium and VortEx®. The firm offers customers anonymous access to diverse and deep order flow, including tools to seamlessly access liquidity in both Millennium and VortEx simultaneously. These advanced proprietary technologies seek to improve overall execution quality by helping to reduce information leakage, market impact and execution expenses.
About ConvergEx Group
ConvergEx Group is a leading provider of global brokerage and trading-related services for institutional investors and financial intermediaries. ConvergEx combines client-first service with innovative products, sophisticated strategies and proprietary technology to meet the challenges of increasingly dynamic and fast-paced markets. Headquartered in New York with a presence in 17 key locations worldwide, the company serves more than 3,000 clients accessing over 100 global market centers.
ConvergEx Group includes ConvergEx Execution Solutions LLC (member NYSE/FINRA/SIPC); LiquidPoint, LLC (member CBOE/SIPC); G-Trade Services LLC (member FINRA/SIPC); Westminster Research Associates LLC (member FINRA/SIPC); ConvergEx Prime Services LLC (member FINRA/SIPC); ConvergEx Solutions LLC, of which ConnEx, Jaywalk and LDB are divisions; and ConvergEx Limited in the UK and Australia. ConvergEx Group, LLC is a subsidiary of ConvergEx Holdings, LLC. Additional information is available at www.convergex.com.
SOURCE ConvergEx Group