Provides Consolidated Information about Mutual Fund Companies
NEW YORK, April 8, 2011 — BNY Mellon Asset Servicing, the global leader in investment servicing, announced today the launch of its News and Exception Workflow System (NEWS), which provides broker dealers with consolidated information regarding the mutual fund companies with which they can transact business. This new service centralizes information that broker dealers previously obtained from multiple sources, reducing the time required to access the information.
It also provides a snapshot view of daily trading information that requires action by broker dealers, streamlining their workflow. In addition, NEWS provides comprehensive information and notifications of events from BNY Mellon's mutual fund clients such as mergers, liquidations, bad prices, new funds and conversions. NEWS is accessible through AdvisorCentral®, BNY Mellon Asset Servicing's web portal for financial advisers and broker dealers.
"As a trusted service provider, our clients have come to expect value-added products from us that provide insight and information into their business and the overall industry," said Michael DeNofrio, executive vice president and head of U.S. investment services within BNY Mellon Asset Servicing's Global Financial Institutions group. "Whether it is business intelligence or enhanced reporting, the timely delivery of information is critical. By adding NEWS to AdvisorCentral, we can streamline the workflow process for clients by providing a consolidated view of available industry capabilities, along with valuable associated information."
BNY Mellon Asset Servicing offers clients worldwide a broad spectrum of specialized asset servicing capabilities including custody and fund services, securities lending, performance and analytics, and execution services. BNY Mellon Asset Servicing provides fund transfer agency services to over 13,000 funds with $2.0 trillion in assets.
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $25.0 trillion in assets under custody and administration and $1.17 trillion in assets under management, services $12.0 trillion in outstanding debt and processes global payments averaging $1.6 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available at www.bnymellon.com.