19 October 2017
Register now

BNY ConvergEx introduces commission management system

30 October 2006  |  1745 views  |  0 Source: BNY ConvergEx Group

BNY ConvergEx Group, LLC, a leader in agency brokerage and investment technology solutions, today announced the launch of SHAREx, its solution for commission sharing arrangements for the investment management community.

SHAREx is one of the key offerings of BNY ConvergEx Group's innovative commission management model, enabling clients to manage commissions more efficiently by consolidating broker research payments with execution expertise.

The new SEC guidelines on client commission arrangements suggest that an effective commission management model should provide the ability to merge best execution with sophisticated commission sharing practices. Evolving market structure changes, such as Regulation NMS, along with the new SEC guidelines, have changed the way clients think about their commission management practices. Through SHAREx, BNY ConvergEx Group combines its ongoing commitment to developing comprehensive trading capabilities that help investment managers seek best execution with client commission practices that fall within the framework of the SEC's recent release.

SHAREx enables investment managers to credit a single, consolidated commission account from which they can pay for investment research from virtually any source. BNY ConvergEx Group's approach affords clients the ability to seek best execution, while consolidating the administration and management of their investment research services. Investment managers can fund their SHAREx accounts by trading with BNY Brokerage or Westminster Research Associates, both BNY ConvergEx Group subsidiaries.

"Our active thought leadership campaign on commission management has been reinforced by the SEC's new guidelines, which serve as the foundation for SHAREx," said Joseph M. Velli, Chairman and Chief Executive Officer of BNY ConvergEx Group. "SHAREx demonstrates BNY ConvergEx Group's commitment to bringing together best execution and innovative commission management solutions."

"The demand for investment research from un-conflicted sources and niche players has continued to experience significant growth," said John D. Meserve, Director of BNY ConvergEx Group. "When you combine this with the fact that investment managers are no longer seeking execution and research from the same place, the need for a comprehensive commission management solution becomes a necessity."

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.innotribe.comvisit www.niceactimize.comvisit www.vasco.com

Who is commenting?

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15851 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8975 views comments | 16 tweets | 23 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8081 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7162 views comments | 9 tweets | 17 linkedin
Santander InnoVentures leads $6m funding round for Mexico's ePesosSantander InnoVentures leads $6m funding r...
6302 views comments | 6 tweets | 3 linkedin

Featured job

Competitive base, commission, benefits
London, UK

Find your next job