ConvergEx Group Grows ConnEx Managed Services Offering

New York - 7 February 2013

ConvergEx Group, a leading technology company, today announced that is has significantly grown its ConnEx managed services FIX connectivity offering in the first year since its launch. Since the beginning of 2012, ConnEx has signed on a wide range of customers of all sizes, from small regional broker-dealers to major international bulge-bracket banks. ConnEx has also introduced a number of new tools that give customers greater control and ease of use.

“In the past 12 months, the number of new customers that have signed on with ConnEx has exceeded our initial plan by more than three-fold. With the average ConnEx customer seeing a 15-18% reduction in their FIX network expenses, we expect this momentum to continue,” said George Rosenberger, managing director and head of ConnEx. “In addition, we have seen strong interest in ConnEx’s pre-trade risk management tool from US broker-dealers who use it in their overall Market Access Rule compliance strategy. Several Canadian brokers have also expressed interest with the Canadian Market Access Rule set to go live in early 2013.”

ConnEx has also delivered a number of new website and desktop tool enhancements to give customers full transparency over their FIX infrastructure in one easy-to-use location. The enhancements deliver cutting-edge technology and include:

  • CRM type system to manage all of their customer connectivity in one location;
  • Centralized monitoring tool to view/manage the health of their FIX engine and FIX sessions;
  • Real-time monitoring tools that allow users to subscribe to certain types of message notifications;
  • Redesigned Pre-Trade Risk Management module that allows customers to set/manage risk thresholds for their customers.

“The ConnEx prospect pipeline is robust and we are excited about the outlook for 2013,” continued Mr. Rosenberger. “We continue to enhance the offering as customers come onboard and look forward to another successful year helping customers reduce their overall connectivity charges.”

ConnEx is a broker-neutral managed services provider that optimally configures FIX connectivity for customers, tailoring infrastructure to meet their ever-evolving business goals and requirements. Customers receive access to sophisticated tools that monitor their FIX orders while a web-based dashboard provides transparency into the onboarding lifecycle. ConnEx helps firms save on capital expenditures and minimize risk.

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