BNY Brokerage Inc, the agency broking arm of the Bank of New York within the BNY Securities Group, has introduced an Internet reporting tool.
The Client Reporting Portal is designed to help fund managers and plan sponsors manage their commission spending and directed brokerage practices more efficiently.
BNY says the Client Reporting Portal offers clients on-line access to their BNY Brokerage account information, including commission statements and trading activity, and support for client compliance efforts through its historical archive and database of commission data. It also offers account snapshots, a bill processing workflow module for tracking invoices, and a centralized database of independent research andthird-party service providers.
“We continue to respond
to
and
anticipate
institutional investors’ needs for comprehensive commission management solutions,” says Carey S. Pack, president of BNY Brokerage. “As the premier agency broker, BNY Brokerage offers clients the tools they need to be successful for trading, including electronic, program and direct access capabilities, as well as managing commissions for soft dollar and commission recapture programs. We will continue to enhance our capabilities and invest in technology to support our clients’ diverse strategic objectives.”