The Bank of New York has completed integration of its agency brokerage subsidiary BNY ESI with independent investment research provider Autranet.
Autranet was acquired by The Bank of New York in January from Credit Suisse First Boston (USA), and has now relocated its offices from New Jersey to BNY ESI's headquarters in New York City.
Autranet and BNY ESI traders are now operating as one consolidated unit and are trading on BNY ESI's technology platform. In addition, Autranet's clearing operations for its equity business have been migrated to BNY ESI's self-clearing platform.
Carey Pack, president of BNY ESI, says: "The successful integration of Autranet into BNY ESI provides our clients with a unified trading facility creating greater pools of liquidity and increased efficiency in the clearing and settlement process."