Bank Of New York Launches New Application For Managing Commissions

BNY ConvergEx Group has launched SHARExSM, an application that aims to allow fund managers to manage commissions by consolidating broker research payments. "Our active thought leadership campaign on commission management has been reinforced by the SEC's new guidelines, which serve

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BNY ConvergEx Group has launched SHARExSM, an application that aims to allow fund managers to manage commissions by consolidating broker research payments.

“Our active thought leadership campaign on commission management has been reinforced by the SEC’s new guidelines, which serve as the foundation for SHAREx,” says Joseph M. Velli, chairman and CEO of BNY ConvergEx Group. “SHAREx demonstrates BNY ConvergEx Group’s commitment to bringing together best execution and innovative commission management solutions.”

“The demand for investment research from un-conflicted sources and niche players has continued to experience significant growth,” adds John D. Meserve, director of BNY ConvergEx Group. “When you combine this with the fact that investment managers are no longer seeking execution and research from the same place, the need for a comprehensive commission management solution becomes a necessity.”

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