Souza Barros Securities Outsources FIX Connectivity and Monitoring Operations to ConvergEx Group's ConnEx ConvergEx will service Miami-based broker-dealer with an international clientele
NEW YORK, July 21, 2014 /PRNewswire/ -- ConvergEx Group, a leading provider of global brokerage and trading-related services, today announced that ConnEx, its outsourced hosted FIX connectivity business, has been chosen to provide its full suite of connectivity, pre-trade risk management and post-trade compliance services to Souza Barros Securities, Inc. ("SBS"). Based in Miami, SBS is a broker-dealer providing access to the U.S. markets for clients in Europe and South America, primarily Brazil. ConnEx's award-winning* connectivity business reduces infrastructure expenses and simplifies connectivity, allowing clients to focus on their core business objectives and worry less about technology upgrades, hardware changes, scalability, redundancy and FIX customization.
"We're excited to be working with Souza Barros and bringing ConnEx's unique capabilities to South America," said George Rosenberger, managing director and head of ConnEx. "Clients around the world are seeking greater efficiencies and insight into their FIX infrastructure, and our new technologies are providing that."
"We are highly impressed by ConnEx's comprehensive capabilities that go beyond just reducing our connectivity-related expenses," said Raiko Bikelis, CEO of SBS. "Pre-trade risk management and compliance with changing market access regulations are of paramount importance to us, and are clearly recognized and prioritized by ConnEx as well."
ConnEx is a broker-neutral managed services provider that customizes and optimally configures FIX connectivity for clients. Clients receive access to sophisticated tools that monitor the orders they send via FIX while a web-based dashboard provides transparency into the onboarding lifecycle. ConnEx helps firms save on capital expenditures and minimize risk, helping them comply with regulatory requirements associated with market access rules.
*Best Compliance Initiative, American Financial Technology Awards (2013); Best Infrastructure Initiative, American Financial Technology Awards (2012)
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 several other key locations including London, Chicago, San Francisco, Boston and Atlanta, 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. ConvergEx Group, LLC is a subsidiary of ConvergEx Holdings, LLC. Additional information is available at www.convergex.com.
SOURCE ConvergEx Group