October 25, 2011

BNY Mellon Enhances its ETF Order Processing Platform to Enable Placement of Online Orders One Day Prior to Trade Date

Upgraded Platform Provides Additional Automation and Flexibility to the Order Process for Authorized Participants

NEW YORK, October 25, 2011 — BNY Mellon Asset Servicing, the global leader in investment services, has enhanced its Authorized Participant Interface (API) to allow authorized participants (APs) increased trade order flexibility and enhanced reporting tools.  API is BNY Mellon's industry leading global exchange-traded funds (ETF) order processing platform.

APs are firms approved to create and redeem shares of exchange-traded funds by delivering or receiving baskets of securities and/or cash to create or redeem shares of the ETF portfolios. This enhancement provides the APs with the ability to pre-notify trade orders on the day prior to trade date and after market close to facilitate processing for international portfolios.

"The increased automation and enhanced flexibility will allow APs to conduct transactions more quickly and with more precise trading options, reducing processing errors and post-trade reconciliation issues," said Joseph Keenan, managing director and global head of exchange-traded fund services at BNY Mellon Asset Servicing.  "Fostering consultative relationships with the authorized participants affords us the insight required to further enhance our suite of services to meet the specialized requirements of this rapidly evolving segment of the global funds industry."

The enhanced API also provides investment managers and fund distributors with an automated, real-time mechanism for approving and tracking daily order flow.

Additional enhancements for the API include:

  • Authorized participants have the option to shorten the settlement period for an order and, when eligible, settle the order through National Securities Clearing Corporation (NSCC).
  • Authorized participants can place cash orders online.
  • Authorized participants can receive an automated trade confirmation with all the relevant order details.
  • Authorized participants can access an online view of the basket details for each portfolio, including underlying constituents, shares outstanding and net asset value.

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 services through BNY Mellon and other related companies.

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 $25.9 trillion in assets under custody and administration and $1.2 trillion in assets under management, services $11.9 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 and through Twitter@bnymellon.