LONDON, May 24, 2010 — Pershing Limited, a BNY Mellon company, announced today that it has launched GlobalClear®, a new back-office outsourcing solution that streamlines clearing, settlement and custody for institutional broker-dealers in Europe.

GlobalClear allows Pershing's institutional clients to outsource their back-office systems and operations to Pershing, while leveraging the company's global settlement network and general clearing memberships with the major European exchanges and multi-lateral trading facilities (MTFs).  Features of GlobalClear include a single point of access for clearing, settling and custody of equities, depository receipts, convertible bonds and other fixed income instruments.  GlobalClear provides Pershing's institutional clients throughout Europe access to the increased number of liquidity venues that have emerged over the last two years, which is vital for success in today's global market environment.

Charles van der Merwe, Chief Executive Officer of Pershing Limited, said, "Rapid and significant changes in the European financial landscape have placed growing pressure on financial firms. Pershing's GlobalClear solution has been designed to support institutional broker-dealers through the clearing and settlement process and is part of Pershing's long-standing commitment to continuous improvement and client growth."

Pershing Limited provides broker-dealers, asset managers, intermediary firms, IFAs, and financial institutions across Europe with a comprehensive range of products, services, and solutions including retail clearing, fully disclosed institutional global clearing, broker services, 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.Clearnet EquityClear and SWX Europe.  Pershing Securities Limited is a member of Deutsche Borse, Eurex Clearing, and Clearstream.  Pershing Limited is an affiliate of Pershing LLC, a leading global provider of financial business solutions to more than 1,150 institutional and retail financial organisations and independent investment advisers who collectively represent over five million active investors. Pershing LLC (member FINRA/NYSE/SIPC) is a member of every major U.S. securities exchange, and a subsidiary of The Bank of New York Mellon Corporation.  Additional information is available at www.pershing.co.uk.

BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). BNY Mellon 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. BNY Mellon 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 $22.4 trillion in assets under custody and administration, $1.1 trillion in assets under management, services $11.8 trillion in outstanding debt and processes global payments averaging $1.5 trillion per day. Additional information is available at www.bnymellon.com.