Service delivers global settlement, enhanced trading and liquidity access while also offering back-office systems and operations support
LONDON 27 March 2012 — GlobalClear®, a multifunctional custody and trading solution from Pershing, a BNY Mellon company, has been selected by three of Pershing's existing investment bank and institutional broker-dealer clients – Bloxham, Execution Noble Ltd. and Northland Capital, to support their developing businesses. GlobalClear allows institutions to outsource their back-office systems and operations to Pershing, while also leveraging its global settlement network and clearing memberships with the major European exchanges and multi-lateral trading facilities (MTFs).
GlobalClear offers a single point of access for clearing, settling and custody of equities, depository receipts, convertible bonds and other fixed income instruments traded on exchange or over the counter. GlobalClear provides Pershing's institutional clients throughout Europe with access to the increasing number of liquidity venues that have emerged over recent years, which is vital for success in today's global market environment.
Damien Devine, Chief Operating Officer at Execution Noble Ltd commented, "Pershing has been a vital part of our growth strategy for several years. Adding GlobalClear to the Pershing services we already utilise will enable us to enhance our services to clients and benefit the market as an additional liquidity provider. Pershing's consultative approach to product and service provision was a major factor in the successful launch of our market making business in London. "
"Pershing gives clients the option to consolidate services with a single partner, giving them the freedom to move freely up and down the capital markets supply chain of securities trading," said Scott Coey, director of institutional broker dealer solutions at Pershing Limited, "We have a long-standing commitment to the institutional space and as the market prepares for more change in regulation, Pershing is committed to removing the barriers to growth and working closely with clients to deliver innovative and cost efficient services to help them become market leaders."
Tadhg Gunnell, Partner at Bloxham, a leading Irish stockbroker stated, "The GlobalClear service in addition to our existing Pershing services afforded us significant trading efficiencies in Pan-European markets. The Pershing partnership approach to their services enables us to react to market developments and develop new lines of business where we see opportunities."
Pershing Limited provides broker-dealers, asset managers, intermediary firms, IFAs, and financial institutions across Europe with a comprehensive range of products, services, and solutions including retail clearing, fully disclosed institutional global clearing, broker services, and trading services. Established in London in 1987, Pershing Limited and its subsidiary, Pershing Securities Limited, are members of the London Stock Exchange and Euroclear UK & Ireland. Pershing Limited has memberships with LCH.Clearnet EquityClear and SIX SIS AG. Pershing Securities Limited is a member of Deutsche Börse, Eurex Clearing, and Clearstream. Pershing Limited is an affiliate of Pershing LLC, a leading global provider of financial business solutions to more than 1,500 institutional and retail financial organisations and independent investment advisers who collectively represent over five million active investors. Pershing LLC (member FINRA/NYSE/SIPC) is a member of every major U.S. securities exchange, and a subsidiary of The Bank of New York Mellon Corporation. Additional information is available at www.pershing.co.uk.
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 $25.8 trillion in assets under custody and administration and $1.26 trillion in assets under management, services $11.8 trillion in outstanding debt and processes global payments averaging $1.5 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. Additional information is available at www.bnymellon.com and through Twitter@bnymellon.