ConvergEx Group to Acquire RealTick From Barclays Bank PLC

NEW YORK, Dec. 16, 2010 /PRNewswire/ -- ConvergEx Group, a leading technology company, today announced that it has signed a definitive agreement to acquire RealTick®, a leading global, multi-broker, cross-asset electronic execution platform, from Barclays Bank PLC.  Financial terms were not disclosed. The deal is expected to close by year end 2010, conditional upon regulatory and other customary closing conditions.

With the close of this acquisition, ConvergEx will broaden its technology offering to include a multi-asset class, 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.

"We chose to acquire RealTick because of its highly scalable technology, proven track record and talented and dedicated staff.  The industry is moving rapidly towards consolidating execution management systems and we believe we can leverage ConvergEx's global footprint to expand RealTick's multi-broker network to make it the most comprehensive and global offering in the industry," said Joseph M. Velli, chairman and chief executive officer of ConvergEx Group. "This deal is part of ConvergEx's long-standing strategy of growing its technology offering for asset managers and financial intermediaries by building or acquiring best-in-class tools that complement our existing product lines. This is another example of technology that we will be able to place on our clients' desktops to help them improve their workflow and performance."

"We are thrilled to be joining forces with ConvergEx," said Stuart Breslow, chief executive officer of RealTick. "This transaction aligns us with a premier technology company with a global reach and a deep client base. Our clients have grown to expect RealTick's continual innovation of technologies that help them analyze, execute and evaluate performance. These clients will now benefit from the broad range of complementary capabilities that ConvergEx has to offer."

"Over the past several years, RealTick has become a leader in the market, offering a cutting-edge product which is widely utilized across the institutional client base," said Jerry Donini, head of Equities at Barclays Capital.  "We look forward to continuing to work with RealTick as it enters its next phase of growth."

ConvergEx is a leading technology company providing products and 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 institutional clients in 100 global markets.  Formed in 2006, the firm has over 1,000 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, and ConvergEx Research Solutions LLC, of which Jaywalk and Cogent Consulting are divisions.   Additional information is available at www.convergex.com.

SOURCE ConvergEx Group

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