BNY Mellon and Jefferies partner for clearing 18 November 2011New York Reporter: Anna Reitman
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Jefferies has announced that its global execution and clearing services arm, Jefferies Bache, has been selected by BNY Mellon to provide support for its FCM offering.
Patrice Blanc, chairman and CEO of Jefferies Bache, said, "We are excited about this new partnership with BNY Mellon Clearing as it enables us to leverage our commodity expertise, global reach and innovative IT solutions to provide comprehensive clearing services."
Jefferies came under pressure from short sellers after MF Global went bankrupt on 31 October and spurred scrutiny of similar market entanglements with European debt at other financial firms, according to various media reports.
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