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Pershing Is Market Maker in NYSE Bonds

Issue 2 - June 2007

Give your clients who invest in corporate bonds access to new sources of liquidity. Beginning in late April 2007, Pershing became a market maker in NYSE BondsSM, the new corporate bond trading platform of the New York Stock Exchange® (NYSE®), thereby enhancing the fixed income offering available to you and your clients.

The new trading platform—which uses the design of the NYSE’s current all-electronic Arca trading platform—will improve price transparency, resulting in more competitive pricing, and will also enable you to trade corporate bonds more efficiently. As a NYSE member and market maker on the NYSE Bonds platform, Pershing will be a liquidity provider and will have the ability to electronically enter orders to buy or sell corporate bonds listed on the NYSE . This new pool of liquidity will enhance Pershing’s fixed income offering for you and your clients.

NYSE Bonds will be expanded to include the corporate bonds of all NYSE-listed companies and their subsidiaries without the companies having to separately list each bond issued. Once approved, this enhancement would expand the number of eligible bonds from approximately 1,000 today to an anticipated 6,000 in the future.

To find out how you can take advantage of this valuable industry advancement and get access to new sources of liquidity, please contact your home office.

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