May 19, 2020
LONDON — BNY Mellon’s Pershing Limited (“Pershing”) has announced the expansion of Pershing Trading Services in 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 who 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 2019. The clients consist of wealth and asset managers based across EMEA, including in the UK, the Netherlands, Denmark, Dubai and Luxembourg.
Pershing’s expanded offering, which provides integrated execution to custody clients, comes at a time when buy-side firms are increasingly looking to external trading support and services. 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: “Pershing has a long heritage of providing trading services to some of the largest wealth and asset managers in the UK and Ireland. 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.
"In this uncertain environment, it is more important than ever to support clients in effectively and efficiently navigating the market volatility. This means acting as a partner and trusted advisor with clients to support their growth over the long-term.”
Geoff Towers, Chief Executive Officer of Pershing Limited, 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."
About BNY Mellon's Pershing Limited
BNY Mellon’s Pershing Limited and its subsidiaries provide broker-dealers, asset managers, intermediary firms, IFAs, and financial institutions across EMEA with a comprehensive range of products, services, and solutions including fully disclosed custody, clearing and settlement for wealth managers and advisers as well as institutional global clearing and trading services. Established in London in 1987, Pershing Limited and its subsidiary, Pershing Securities Limited, are members of the London Stock Exchange and Euroclear UK & Ireland. Pershing Limited has memberships with LCH Limited (EquityClear®). Pershing Securities Limited is a member of various markets and clearing houses including, LCH SA and EuroCCP. Pershing Limited is an affiliate of Pershing LLC, a leading global provider of financial business solutions to institutional and retail financial organisations and independent investment advisers. Pershing LLC (member FINRA/NYSE/SIPC) is a member of every major US securities exchange, and both are subsidiaries of The Bank of New York Mellon Corporation. Additional information is available at pershing.com/emea.
About BNY Mellon's Pershing
BNY Mellon’s Pershing and its affiliates provide advisors, broker-dealers, family offices, hedge fund and ’40 Act fund managers, registered investment advisor firms and wealth managers with a broad suite of global financial business solutions. Many of the world’s most sophisticated and successful financial services firms rely on Pershing for clearing and custody, investment and retirement solutions, technology, enterprise data management, trading services, prime brokerage, managed account technology and operations and business consulting. Pershing helps clients improve profitability and drive growth, create capacity and efficiency, attract and retain talent, and manage risk and regulation. With a network of offices worldwide, Pershing provides business-to-business solutions to clients representing more than seven million investor accounts globally. Pershing LLC (member FINRA, NYSE, SIPC) is a BNY Mellon company. Professionally advised managed accounts are offered through its affiliate, Lockwood Advisors, Inc., which is an investment adviser registered in the United States under the Investment Advisers Act of 1940. Additional information is available on pershing.com, or follow us on 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 management and investment services in 35 countries. As of March 31, 2020, BNY Mellon had $35.2 trillion in assets under custody and/or administration, and $1.8 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 www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.