The Bank of New York has been appointed by International Securities Trading Corporation plc (ISTC) as clearing agent for its portfolio of Fixed Income securities. ISTC provides returns to shareholders by lending, primarily in the form of hybrid capital, to the banking and financial services sector.
“Following market analysis we selected Bank of New York for its securities clearance capability,” says Frank Gaynor, an executive director at ISTC.
“This appointment reflects our pre-eminent position in broker dealing outsourcing and clearance solutions,” adds David Aldrich, the managing director of The Bank of New York. “We look forward to demonstrating our high level of service.”