ConvergEx Group Completes Purchases of RealTick and LDB Consulting
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Acquisitions Continue ConvergEx's Long-Standing Strategy of Growing its Technology Offering
NEW YORK, Jan. 3, 2011 - ConvergEx Group, a leading technology company, today announced that it has completed its acquisition of RealTick® from Barclays Bank PLC. ConvergEx additionally announced today that it has also completed its acquisition of LDB Consulting, Inc. Financial terms were not disclosed for either transaction.
"We are very excited about these two acquisitions and we look forward to using and expanding RealTick and LDB's technologies in innovative ways," said Joseph M. Velli, chairman and chief executive officer of ConvergEx Group. "With the close of these deals, we have added to our already attractive product offering. Our global reach and fully independent stance is unique in the industry and we believe it gives our clients a tremendous edge."
As the industry's leading global, multi-broker, cross-asset electronic execution platform, RealTick offers an easily deployable and completely broker-neutral execution platform. RealTick's technology integrates seamlessly into almost any trading style and offers sophisticated features that enable traders to simplify their daily workflow.
LDB Consulting specializes in developing software that assists in the computation and optimization of capital charges, including security haircuts and margins. LDB's software suite performs various calculations, including: optimized charges for equities, listed derivatives, baskets and OTCs; portfolio margining; and haircuts for fixed income asset types. LDB's software also calculates repurchase and reverse repurchase agreement charges, taking advantage of allowable relief.
About ConvergEx Group
ConvergEx Group is a leading technology company providing mission critical software and technology-enabled services to asset managers and financial intermediaries globally. Its products and services span the investment life cycle and center on the development, marketing and servicing of technology-based solutions that enable clients to achieve improved investment results through operational and workflow efficiencies, execution and analytical tools and highly personalized service. The firm serves more than 6,000 clients in over 100 global markets. Formed in 2006, the firm has over 1,200 employees in 22 locations throughout the U.S., Europe, Asia, Australia and Africa.
BNY ConvergEx Group, LLC is comprised of the following businesses: BNY ConvergEx Execution Solutions LLC (member NYSE/FINRA/SIPC), 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); NorthPoint Trading Partners, LLC (member FINRA/SIPC); Eze Castle Software LLC, RealTick LLC and ConvergEx Research Solutions LLC, of which Jaywalk, Cogent Consulting and LDB Consulting are divisions. Additional information is available at www.convergex.com.
Contact:
Elizabeth Anderson
EAnderson@convergex.com
212.468.7713
SOURCE ConvergEx Group
Web Site: www.convergex.com
