Ireland's Bloxham Stockbrokers has contracted with Pershing, a subsidiary of the Bank of New York, for outsourced trading, clearing and settlement services.
Irish brokerage Goodbody Stockbrokers announced last week that it had signed up to Pershing's outsourced clearing and settlement services.
Under the new contract, Pershing will provide Bloxham, which is Ireland's largest independent stockbroker, with hosted services from its new Dublin operations centre.
Pershing says through its "Model B" outsourced clearing services, it will settle all of the broker's client trades and issue contract notes in the bokers' name.
Angus McDonnell, MD, Bloxham Stockbrokers, says: "Pershing has demonstrated a real commitment to becoming the leading service provider in the Irish market. By appointing Pershing, we are able to focus our entire attention on delivering a first class stockbroking service to our clients."