BNY Mellon’s Pershing expands equities trading services capabilities
20 May 2020 London
Image: AyazHan/Shutterstock
BNY Mellon has expanded its Pershing Trading Services in Europe, the Middle East and Africa (EMEA), extending its integrated execution to custody services.
As part of this expansion, Pershing Trading Services (PTS) now offers its global equity trading services to firms that do not hold custody on the Pershing platform and beyond the UK and Ireland.
PTS has completed the successful onboarding of 17 clients since October last year. The clients consist of wealth and asset managers based across EMEA, including in the UK, the Netherlands, Denmark, Dubai and Luxembourg.
BNY Mellon explained that Pershing’s expanded offering comes at a time when buy-side firms are increasingly looking to external trading support and services.
According to BNY Mellon, the business continues to experience strong demand from financial institutions as trading activity is complicated by heightened market volatility, regulation and cost pressures.
Michael Horan, head of trading at Pershing EMEA, said: “The recent growth of our trading business is reflective of both our expertise in supporting clients throughout the entire trade lifecycle, as well as increased demand for trading services from clients facing growing complexity and volatility in markets. In addition to our global trading expertise, our integrated execution to custody solution supports clients with the operational challenges they are facing to drive new efficiencies.”
Geoff Towers, CEO of Pershing, added: “Over the past few years we have made our services increasingly modular so that clients can switch on or off the parts they need as their business model evolves. Extending our trading services as a stand-alone offer, as well as offering it as an integrated execution, clearing, settlement and custody service, was a natural extension of this. We’re delighted with the early client response."
As part of this expansion, Pershing Trading Services (PTS) now offers its global equity trading services to firms that do not hold custody on the Pershing platform and beyond the UK and Ireland.
PTS has completed the successful onboarding of 17 clients since October last year. The clients consist of wealth and asset managers based across EMEA, including in the UK, the Netherlands, Denmark, Dubai and Luxembourg.
BNY Mellon explained that Pershing’s expanded offering comes at a time when buy-side firms are increasingly looking to external trading support and services.
According to BNY Mellon, the business continues to experience strong demand from financial institutions as trading activity is complicated by heightened market volatility, regulation and cost pressures.
Michael Horan, head of trading at Pershing EMEA, said: “The recent growth of our trading business is reflective of both our expertise in supporting clients throughout the entire trade lifecycle, as well as increased demand for trading services from clients facing growing complexity and volatility in markets. In addition to our global trading expertise, our integrated execution to custody solution supports clients with the operational challenges they are facing to drive new efficiencies.”
Geoff Towers, CEO of Pershing, added: “Over the past few years we have made our services increasingly modular so that clients can switch on or off the parts they need as their business model evolves. Extending our trading services as a stand-alone offer, as well as offering it as an integrated execution, clearing, settlement and custody service, was a natural extension of this. We’re delighted with the early client response."
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