PRNewswire
JERSEY CITY, N.J.
(NYSE:BK)
Jun 3, 2009
Revolutionary, Technology Platform Provides Introducing Broker-Dealers, Investment Professionals, Independent Registered Investment Advisors and Dually Registered Advisors with a Complete Solution to Help them Efficiently Manage their Entire Business
JERSEY CITY, N.J., June 3, 2009 — Pershing LLC, a subsidiary of The Bank of New York Mellon Corporation, announced today that it has introduced NetX360™, an innovative and open-architecture technology platform for introducing broker-dealer firms, investment professionals, independent registered investment advisors (RIAs) and dually registered advisors. This new offering provides Pershing's customers with a complete solution to help them effectively meet their clients' financial goals. It also enables them to efficiently manage their brokerage and advisory business on a single, integrated platform.
NetX360 builds on a wide range of solutions previously provided through Pershing's industry-leading NetExchange Pro® and Advisor® online brokerage platforms and Pershing Managed Account Solutions' managed account workstation. The new platform offers introducing broker-dealers and RIAs with the ability to fully integrate front- and back-office functionality from an unprecedented number of best-in-class, third-party solution providers across a broad array of critical business areas, including relationship management, portfolio and tax-lot accounting, compliance monitoring, trading, clearing and settlement, performance reporting and rebalancing. NetX360 enables Pershing's customers to:
Brian T. Shea, president and chief operating officer of Pershing LLC, said, "The continued trend towards dual registration and advisory business helped shape our strategy for developing an integrated technology platform for introducing broker-dealers, investment professionals, RIAs and dually registered advisors. The launch of NetX360 enables our customers to efficiently build and manage their entire business via a single solution, which will greatly enhance their ability to serve their investors."
Suresh Kumar, chief information officer of Pershing LLC, said, "The launch of NetX360 marks the culmination of nearly two years of development, rigorous testing and customer feedback, and is one of the most innovative technology solutions we have introduced to our customers in our 70-year history. Approximately 500 of our technology experts have worked diligently to incorporate and develop a wide range of tools, advanced navigation and workflow that makes this offering revolutionary. This new next-generation platform underscores our continued commitment to develop and deliver industry-leading functionality and technology capabilities for introducing broker-dealers, investment professionals, RIAs and dually registered advisors."
Pershing LLC (member FINRA/NYSE/SIPC) is a leading global provider of financial business solutions to more than 1,150 institutional and retail financial organizations and independent registered investment advisors who collectively represent over five million active investors. Located in 20 offices worldwide, Pershing and its affiliates are committed to delivering dependable operational support, robust trading services, flexible technology, an expansive array of investment solutions, practice management support and service excellence. Pershing is a member of every major U.S. securities exchange and its international affiliates are members of the Deutsche Borse, the Irish Stock Exchange and the London Stock Exchange. Pershing LLC is a subsidiary of The Bank of New York Mellon Corporation. Additional information is available at www.pershing.com.
The Bank of New York Mellon Corporation is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. The company is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $19.5 trillion in assets under custody and administration, $881 billion in assets under management, services more than $11 trillion in outstanding debt and processes global payments averaging $1.8 trillion per day. Additional information is available at www.bnymellon.com.