Bank of New York subsidiary Pershing is providing its introducing broker-dealer and independent registered investment advisor (RIA) customers with access to BNY Jaywalk Consensus Metrics, a service that aggregates and delivers an independent research perspective on more than 5,000 equities.
“We are focused on providing our customers, their investment professionals, and independent RIAs with access to information that will help them succeed in today’s fast-paced market environment,” says Brian T. Shea, chief operating officer of Pershing. “The addition of BNY Jaywalk Consensus Metrics to our NetExchange professional platforms reflects that focus and exemplifies our organization’s commitment to delivering industry leading solutions.”
BNY Jaywalk, which represents a worldwide network of over 150 independent research providers (IRPs), says thee IRPs whose ratings make up the its Consensus Metrics do not have investment banking conflicts and employ their own research methodology and discipline. The BNY Jaywalk Consensus Metrics presents the average of all of the IRPs’ individual recommendations on a given security in a single consolidated rating. The organisation claims this gives clients a snapshot of overall independent sentiment, as well as the 90-day change on a stock, from a broad spectrum of analysts. In the last year, BNY Jaywalk has won a number of mandates from full-service Wall Street brokerage firms Seeking to provide independent research to their clients following the global research settlement. The selection of BNY Jaywalk followed competitive reviews at each of the firms.
BNY Jaywalk Consensus Metrics will be delivered through NetExchange Pro and NetExchange Advisor, Pershing’s online brokerage platforms, currently used by more than 76,000 investment advisers and RIAs. Other investment research tools available through the NetExchange professional include Pershing Investment Research and third-party content.
“In distilling the analysis and opinions of our global network of independent research providers, we provide a unique and valuable perspective on thousands of equities worldwide,” says John D. Meserve, president of BNY Jaywalk. “BNY Jaywalk Consensus Metrics adds a powerful capability to Pershing’s brokerage platform, complementing the research-related solutions already available to their customers and investment professionals they support.”