The Bank of New York Company, Inc. has released BNY ExecutionPlus, to integrate the Company’s custody, execution, clearing and settlement services for non US based financial institutions making trades in the US equity markets.
Combining The Bank of New York’s global custody services with the execution capabilities of Pershing LLC, BNY ExecutionPlus provides trading across the complete lifecycle of a US equity trade, from order capture via third party order management system, to execution in the market, affirmation/confirmation, foreign exchange, clearing, settlement, and reporting.
“The Bank of New York has the scale and expertise that global financial institutions require but that few other providers can offer,” says Tim Keaney, a senior executive vice president and global head of investor services of The Bank of New York. “BNY ExecutionPlus is an ideal example of the Bank’s unique ability to unify and automate capabilities from across our organisation to better serve financial institutions with specialised needs.”
“BNY ExecutionPlus offers an integrated, streamlined and scaleable solution for global custody clients seeking to improve their margins while managing costs and reducing operational risk,” adds Frank La Salla, the MD at Pershing LLC.
BNY ExecutionPlus will initially be applied to trades in the US equity markets, but the Bank expects to offer similar services in the UK and Euronext markets in the future.