BNY Mellon Capital Markets, LLC has expanded its outsourced trading offering to a buy-side trading division, xBK.
xBK is a giant in buy-side institutions, raking in over $1 trillion per year for its Investment Management wing.
Through the offering, customers will be able to manage their assets at a higher level of efficiency and lower spending costs. They will have access of BNY Mellon’s investment services, and the enhanced trading is expected to be automated and facilitate workflow.
In a press release on the announcement, Dragan Skoko, head of outsourced trading and xBK at BNY Mellon, highlighted how investments in technology will optimise the asset management services offered by the institution.
Skoko observed: “The asset management industry is at a critical inflection point as it continues to address fee pressures, higher operating costs, increased trading complexity and heightened regulatory requirements. Against this backdrop, we have expanded access to our deep execution expertise and invested heavily to build a cutting-edge technology stack. We are ready to meet our clients wherever they are along their journey to reduce costs, enter new markets faster or expand their investment product line-up."
Adam Vos, CEO of BNY Mellon markets and execution services, stated: “We are committed to supporting the buy-side as they position themselves for long-term growth and competitiveness. By leveraging the full scale of the BNY Mellon enterprise, combined with our expertise in trading, we are uniquely positioned to provide a high-quality outsourced trading offering to our clients worldwide.”
BNY Mellon recently led a $14 million investment round for fixed income tech company, bondIT.