For Third Consecutive Year, BNY Mellon's Pershing Prime Services Unit Named “Best Prime Broker—Innovation” by HFM US Services Award

December 14, 2016

BNY Mellon's Alternative Investment Services business also named “Best Administrator – Liquid Alternatives”

JERSEY CITY, N.J., December 14, 2016 – BNY Mellon’s Pershing LLC announced today that its Prime Services unit was named “Best Prime Broker—Innovation” by HFM  at the 2016 US Hedge Fund Services Awards. This is the sixth time that HFM has honored Pershing Prime Services with an award, and the third consecutive year that it has designated Pershing as the industry's most innovative prime broker.

The HFM US Hedge Fund Services Awards recognize leading hedge fund service providers for exceptional customer service and innovative product development over the past year. The “Best Prime Broker—Innovation” category focuses on enhancements to core services or the launch of new services that have improved operational or asset raising conditions for clients. A panel of independent judges assessed entrants, based on financial progress, growth and genuine innovation.

“As hedge fund managers adapt to shifting investor demands and competitive forces, we strive to remain one step ahead to ensure we align with their needs,” said Mark Aldoroty, managing director, Pershing Prime Services. "We are devoted to offering our clients cutting-edge solutions and high-touch custom service that helps drive alpha. HFM’s recognition of our industry leadership and innovation highlights our personal investment in helping our clients achieve success."

Amid the challenging environment for hedge funds in 2016, BNY Mellon’s Pershing Prime Services focused on providing insights to fund managers on how to best position themselves for success in the evolving industry. In addition to leveraging its annual INSITE conference to expose alternative investment managers to discussions on the liquid alternatives space, Pershing held focused forums that provided market participants with unique perspectives on key topics including the future of the hedge fund industry as viewed by allocators, the post-election alternative investment landscape, and challenges and opportunities surrounding the municipal bond market. 

BNY Mellon’s Pershing Prime Services continues to develop a comprehensive toolset to help its clients address a broad range of operational and strategic challenges. Pershing’s offering includes:

  • Principal securities lending and borrowing with over $1.5 trillion in global client assets, which includes $30 billion in exclusive lendable securities and many hard-to borrow names.
  • Open-architecture technology via Pershing’s NetX360® platform, which provides instant account access to clients. Through NetX360®, clients have access to PrimeConnect™ and PrimeConnect40™, which offer unprecedented transparency and control of collateral selection and movement of funds between clients’ custodian and prime broker.
  • An industry-leading liquid alternatives offering, boasting a dedicated ’40 Act team with single manager and multi-manager liquid alternatives expertise, support for a wide variety of fund structures, and an innovative tri-party custody solution that enables increased efficiency for managers when leveraging their custodian.

In addition to recognizing Pershing Prime Services innovation within prime brokerage, HFM named BNY Mellon's Alternative Investment Services  business “Best Administrator – Liquid Alternatives”, the fifth consecutive year this business has received an award.

To learn more about BNY Mellon’s Pershing Prime Services, please visit:

About BNY Mellon's Pershing

BNY Mellon’s Pershing is a leading provider of clearing and custody services. We are uniquely positioned to help complex financial services firms transform their businesses, drive growth, maximize efficiency, and manage risk and regulation.

Wealth management and institutional firms outsource to us for trading and settlement services, investment solutions, bank and brokerage custody, middle and back office support, data insights, and business consulting.

Pershing brings together high-touch service, an open digital platform and the BNY Mellon enterprise to deliver a differentiated experience for every client.

Pershing LLC (member FINRA, NYSE, SIPC) is a BNY Mellon company. With offices around the world, Pershing has over $2 trillion in assets and millions of investor accounts. Pershing affiliates include Albridge Solutions, Inc. and Lockwood Advisors, Inc., an investment adviser registered in the United States under the Investment Advisers Act of 1940. Additional information is available on, or follow us on LinkedIn or Twitter @Pershing.

About BNY Mellon

BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment and wealth management and investment services in 35 countries. As of June 30, 2021, BNY Mellon had $45.0 trillion in assets under custody and/or administration, and $2.3 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK).Additional information is available on Follow us on Twitter @BNYMellon or visit our newsroom at for the latest company news.