Pershing LLC, a subsidiary of The Bank of New York Mellon Corporation and Barclays Capital, the investment banking division of Barclays Bank PLC, have established an agreement for the distribution of new issue municipal bonds. This relationship enables Pershing to offer its customers a wide range of new issue municipal bond offerings underwritten by Barclays Capital Inc.
This new agreement with Barclays Capital expands Pershing’s existing municipal bond offering business and provides its introducing broker-dealer and independent registered investment advisor (RIA) customers with access to a nationwide calendar of new issue municipal bond offerings and a broader array of municipal bond choices to help them meet their clients’ financial objectives.
Pershing’s fixed income platform provides customers with access to a broad range of securities such as government bonds, agencies, investment grade and high-yield corporate bonds, preferred stock, unit investment trusts, money market offerings and structured products.
“As a leading provider of trading services for the debt markets, Pershing continuously seeks to offer our customers a broad spectrum of fixed income investment solutions from industry-leading financial organizations to help them succeed in an increasingly competitive market environment,” says Ted Bragg, managing director of fixed income sales and trading, Pershing.
“This new relationship with Barclays Capital provides our introducing broker-dealer and RIA customers with access to a comprehensive menu of new issue municipal bond choices which will enable them to better meet their clients’ financial goals.”
“We are pleased to have the opportunity to work with Pershing,” says Peter Coleman, managing director of municipal finance, Barclays Capital. “This agreement provides Barclays Capital’s new issue clients with access to Pershing’s extensive network of introducing broker-dealer and RIA customers which will help to broaden our reach across the U.S.”
“It will also result in enhanced execution and distribution results for our issuing clients and provide Pershing’s customers with an even broader array of new issue municipal bond offerings to help them grow their businesses and serve investors.”
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