New York, July 3, 2007 GTCR Golder Rauner, LLC today announced that BNY ConvergEx Group, LLC, a leading provider of global agency brokerage and investment technology solutions, has completed its acquisition of LiquidPoint LLC, first announced on June 11, 2007. BNY ConvergEx Group was formed in 2006 when GTCR partnered with The Bank of New York Company, Inc. (NYSE:BK) and Eze Castle Software, a major provider of trade order management and related technologies.
LiquidPoint is a listed options execution and trading technology firm that provides services to institutional traders, prime brokers, hedge funds, financial intermediaries and options exchanges. Based in Chicago, the agency-based registered broker-dealer specializes in derivatives execution management technology and brokerage services for listed options and equities.
The acquisition of LiquidPoint strengthens ConvergEx’s ongoing strategy of providing clients with increased choice and depth for their execution needs. The addition of options to its multi-asset class capabilities allows ConvergEx to continue to meet the diverse trading needs of institutional investors during a period of dynamic growth in options trading. The marketplace is recognizing the many advantages that options can offer, including increased cost efficiencies, effective hedging strategies and the potential for higher returns. ConvergEx helps investors implement their options strategies by offering an advanced trading system that combines cutting-edge technology and order execution with outstanding, customized client service.
Joseph M. Velli, Chairman and Chief Executive Officer of BNY ConvergEx Group, commented, “The LiquidPoint acquisition was primarily driven by its ability to immediately strengthen and expand our core competencies in investment technology and execution and liquidity management. LiquidPoint’s equity options trading capabilities and sophisticated execution management tools will significantly increase the range of solutions that we bring to clients.”
“The LiquidPoint team is greatly enthused about joining BNY ConvergEx Group and eager to begin unlocking the tremendous synergies that this combination provides,” says Anthony J. Saliba, President and Chief Executive Officer of LiquidPoint LLC.”
GTCR Principal Dean Mihas commented, “LiquidPoint’s industry leading technology platform and innovative management team will be tremendous assets to BNY ConvergEx Group.” GTCR Principal Collin Roche added, “We are excited to partner with Tony Saliba and his team to continue growing ConvergEx into a world class execution and investment technology firm.”
About BNY ConvergEx Group
BNY ConvergEx Group, LLC provides premier institutional agency brokerage and investment technology solutions designed to deliver a comprehensive, integrated approach to the investment cycle, from idea generation and trade execution to clearance and settlement. The Company offers a broadly diversified suite of services providing innovative solutions in liquidity and execution management, investment technologies, transition management, research and commission management, and intermediary and clearing services. BNY ConvergEx Group is comprised of the following businesses: BNY ConvergEx Execution Solutions LLC (member NYSE/NASD/SIPC), including BNY Global Transition Management and LJR Recapture Services; LiquidPoint, LLC (member CBOE/SIPC); BNY Jaywalk LLC; ConvergEx Global Markets Ltd.; Eze Castle Software LLC; Eze Castle Transaction Services LLC and Westminster Research Associates LLC (members NASD/SIPC). BNY ConvergEx Group is an affiliate of The Bank of New York Mellon Corporation. (NYSE: BK). Additional information is available at www.bnyconvergex.com.
Founded in 1980, GTCR Golder Rauner, LLC is a leading private equity investment firm and long-term strategic partner for outstanding management teams. The Chicago-based firm pioneered the investment strategy of identifying and partnering with exceptional executives to acquire and build companies through a combination of acquisitions and strong internal growth. GTCR currently manages more than $8 billion of equity capital invested in a wide range of companies and industries. More information about GTCR can be found at www.gtcr.com.