New affiliate to provide Pershing's complete offering to Canadian investment community
JERSEY CITY, N.J., September 12, 2012 — Pershing LLC, a BNY Mellon company, today announced the membership of Pershing Securities Canada Limited (Pershing), its new Canadian affiliate, with the Toronto Stock Exchange. Pershing will offer the same breadth of products, services, solutions and technology to locally registered Canadian advisors and broker-dealers that Pershing delivers to its U.S. customers.
"We have been working with the Canadian financial community for more than 35 years. Now with the launch of our Pershing Canada affiliate, we can provide a full array of custody, clearing and execution services to the Canadian investment community," said Frank LaSalla, CEO of Pershing Securities Canada Limited, and Managing Director at Pershing. "This launch is a logical extension of our global strategy and affords us the opportunity to deepen the relationships we've already developed in the Canadian market."
Pershing's Canadian affiliate has successfully completed its initial testing and has planned a phased launch that will start with its first client (Pershing LLC in the U.S.) being brought onto the platform in the fourth quarter of 2012. Following this onboarding, Pershing plans to begin the process of adding Canadian firms who are regulated by the Investment Industry Regulatory Organization of Canada (IIROC). Pershing plans to first offer its solutions to institutional firms that are IIROC members, followed by retail-oriented IIROC members.
In addition, Pershing is planning the development of a new office with on-the-ground staff in Toronto, Canada. These members of the Pershing team will be tasked with servicing customers in the institutional and retail broker-dealer community as well as the investment advisor space in Canada.
Pershing LLC (member FINRA/NYSE/SIPC) is a leading global provider of financial business solutions to more than 1,500 institutional and retail financial organizations and independent registered investment RIAs who collectively represent approximately 5.5 million active investors. Located in 23 offices worldwide, Pershing and its affiliates are committed to delivering dependable operational support, robust trading services, flexible technology, an expansive array of investment solutions, practice management support and service excellence. Pershing is a member of every major U.S. securities exchange and its international affiliates are members of the Deutsche Borse, Australian Stock Exchange, Irish Stock Exchange, London Stock Exchange and Toronto Stock Exchange. Pershing LLC is a BNY Mellon company. Additional information is available at www.pershing.com.
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 $27.1 trillion in assets under custody and administration and $1.3 trillion in assets under management, services $11.5 trillion in outstanding debt and processes global payments averaging $1.4 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com or follow us on Twitter@BNYMellon.