Thomson Financial Signs BNY Brokerage To Integrate BNY SonicSuite Powered DEx Platform With Thomson AutEx Network
David Basso / Thomson Financial
2 Nov 2004 9:21AM ET
NEW YORK, NY, November 1, 2004
Thomson Financial, an operating unit of The Thomson Corporation (NYSE: TOC, TSX: TOC) and leading provider of information and technology solutions to the worldwide financial community, today announced an agreement with BNY Brokerage Inc., subsidiary of The Bank of New York and member of BNY Securities Group, to integrate its Direct Execution Services (DEx) equity trading platform with Thomson AutEx, the industry’s leading online real-time network and database for order routing, indications of interest, advertised trades and allocations.
Powered by the BNY Brokerage SonicSuite of services, DEx will provide Thomson AutEx clients with direct electronic access to all electronic markets and the opportunity to direct order flow straight from their order management system. Through this FIX connection, clients will receive intelligent order routing and direct connectivity to all major pools of liquidity, including Nasdaq, listed exchanges, ECNs and ATSs.
“DEx’s electronic trading capabilities offer complete access to all major liquidity sources and is an ideal complement to the Thomson AutEx network,” said Carey S. Pack, president of BNY Brokerage . “DEx also offers clients the flexibility to connect to in-house applications, proprietary analytics and back-office technologies,” said Pack.
“Our goal is to offer best of breed solutions, enabling AutEx clients to make better trading decisions,” said Ken Wagner, chief operating officer, Global Transactions Services, Thomson Financial. “The addition of BNY Brokerage’s exemplary technology will further enhance the quality and depth of our offering,” said Wagner.
The Thomson AutEx network handles nearly one million indications daily, enabling more than 300 global brokers to advertise inventory to more than 500 institutions. Access to the network is via an efficient, single connection that supports all FIX messaging, including indications of interest, advertised trades, order routing and allocations, to the global trading community.
About BNY Brokerage
BNY Brokerage, a subsidiary of The Bank of New York and a member of BNY Securities Group, is a leading institutional agency broker providing execution management, commission management and transition management services to investment managers, hedge funds, pension funds, endowments, unions, and other plan sponsor clients. BNY Securities Group is the global agency brokerage, clearing and financial services outsourcing sector of The Bank of New York Company, Inc. It provides institutions, broker-dealers and corporations with a broadly diversified suite of services and “The Power of Choice” through multiple business models. Through its broad range of businesses, BNY Securities Group offers creative solutions in trade execution, commission management, independent research, securities clearing and financial services outsourcing. BNY Securities Group is the largest provider of commission management services, has 21 New York Stock Exchange seats, and offers global execution and clearing services in over 80 markets with offices in the U.S., Europe, Asia, and Australia. BNY Securities Group is an organization consisting of several broker-dealers and other companies. BNY Brokerage Inc. is a member of NYSE/NASD/SIPC.
About Thomson Financial
Thomson Financial is a US$1.5 billion provider of information and technology solutions to the worldwide financial community. Through the widest range of products and services in the industry, Thomson Financial helps clients in more than 70 countries make better decisions, be more productive and achieve superior results. Thomson Financial is part of The Thomson Corporation (www.thomson.com), a leading provider of value-added information, software tools and applications to more than 20 million users in the fields of law, tax, accounting, financial services, higher education, reference information, corporate training and assessment, scientific research and healthcare. With revenues from continuing operations of US$7.44 billion, The Thomson Corporation lists its common shares on the New York and Toronto stock exchanges (NYSE: TOC; TSX: TOC).
