Pershing LLC, a subsidiary of The Bank of New York Company, Inc. and a member of BNY Securities Group, has begun providing its introducing broker-dealer and independent registered investment advisor (RIA) customers with access to BNY Jaywalk Consensus Metrics, a service that aggregates and delivers an independent research perspective on more than 5,000 global equities.
BNY Jaywalk, Inc., The Bank of New York's independent equity research consultancy, represents a worldwide network of over 150 independent research providers (IRPs). The IRPs whose ratings make up the BNY Jaywalk Consensus Metrics do not have investment banking conflicts and employ their own research methodology and discipline. The BNY Jaywalk Consensus Metrics presents the average of all of the IRPs' individual recommendations on a given security in one consolidated rating. This provides investment professionals with a unique snapshot of the overall independent sentiment, as well as the 90-day change on a stock, from a broad spectrum of analysts. In the last year, BNY Jaywalk has won a number of important mandates from full-service Wall Street brokerage firms seeking to provide independent research to their clients following the global research settlement. The selection of BNY Jaywalk followed competitive reviews at each of the firms and has been a strong endorsement of the breadth and strength of the Jaywalk platform.
BNY Jaywalk Consensus Metrics will be delivered through NetExchange Pro and NetExchange Advisor, Pershing's online brokerage platforms that are accessed by more than 76,000 investment professionals and RIAs respectively. The addition of this service further expands the array of investment research tools available through the NetExchange professional platforms, which includes Pershing Investment Research and leading third-party content.
Brian T. Shea, chief operating officer of Pershing, said, "We are focused on providing our customers, their investment professionals, and independent RIAs with access to information that will help them succeed in today's fast-paced market environment. The addition of BNY Jaywalk Consensus Metrics to our NetExchange professional platforms reflects that focus and exemplifies our organization's commitment to delivering industry leading solutions."
John D. Meserve, president of BNY Jaywalk, said, "In distilling the analysis and opinions of our global network of independent research providers, we provide a unique and valuable perspective on thousands of equities worldwide. BNY Jaywalk Consensus Metrics adds a powerful capability to Pershing's brokerage platform, complementing the research-related solutions already available to their customers and investment professionals they support."