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BNY Mellon Asset Servicing inks Bank Gutmann contract

24 January 2008  |  949 views  |  0 Source: BNY Mellon Asset Servicing

BNY Mellon Asset Servicing, the global leader in securities servicing, has been selected by Bank Gutmann AG and its asset management company, Gutmann KAG, to provide U.S. equity trading services.

BNY Mellon Asset Servicing will provide both Bank Gutmann AG and Gutmann KAG with seamless trading across the complete lifecycle of a U.S. equity trade, from order capture to execution in the market, affirmation/confirmation, clearing, settlement, and reporting.

BNY Mellon Asset Servicing's BNY ExecutionPlus platform allows clients to monitor the progress of trade orders from any time zone and resolve any queries or issues in a timely fashion. BNY ExecutionPlus has a powerful and sophisticated rules engine that is customised to meet the specific requirements of clients, such as trading under a particular percent of average daily volume in stock.

BNY ExecutionPlus also provides clients with the ability to utilise Pershing LLC's online account management platform, NetExchange Pro. Through NetExchange Pro, clients can gain access to account information, quotes, investment research, news and other third-party content. Pershing is a subsidiary of The Bank of New York Mellon Corporation.

Nadine Chakar, executive vice president at BNY Mellon Asset Servicing, said: "BNY ExecutionPlus combines the world class custody capabilities of BNY Mellon Asset Servicing with the power of Pershing's global execution and clearing capabilities, and further demonstrates our new organisation's ability to serve financial institutions' specialised needs with a seamless and comprehensive service offering."

Frank La Salla, managing director at Pershing, added: "This appointment further reinforces how The Bank of New York Mellon is combining scale, technology and intellectual capital to provide our clients with cost-effective trading and settlement services. We will continue to develop and deliver market-leading solutions to our clients to help them grow their businesses."

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