BNY’s Pershing adds to its service offering

BNY’s Pershing adds to its service offering
Michael Horan, lead role with Pershing EMEA, BNY Mellon.

BNY Mellon’s Pershing has expanded Pershing Trading Services (PTS) in EMEA, extending the firm’s integrated execution to custody services.

Michael Horan, head of trading at Pershing EMEA, said: “Pershing has a long heritage of providing trading services to some of the largest wealth and asset managers in the UK and Ireland.

“The recent growth of our trading business is reflective of both our expertise in supporting clients throughout the entire trade life cycle, as well as increased demand for trading services from clients facing growing complexity and volatility in markets. In addition to our global trading expertise, our integrated execution to custody solution supports clients with the operational challenges they are facing to drive new efficiencies.”

As part of this expansion, PTS now offers its global equity trading services to firms who do not hold custody on the Pershing platform and beyond the UK and Ireland. PTS has completed the successful onboarding of 17 clients since October 2019.

The clients consist of wealth and asset managers based across EMEA, including in the UK, the Netherlands, Denmark, Dubai, and Luxembourg.

Pershing’s expanded offering, which provides integrated execution to custody clients, comes at a time when buy-side firms are increasingly looking to external trading support and services. The business continues to experience strong demand from financial institutions as trading activity is complicated by heightened market volatility, regulation and cost pressures.

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