BNY Securities Group Introduces New Technology for Commission Management Services.Business Editors NEW YORK--(BUSINESS WIRE)--March 25, 2003 BNY BNY Bank of New York Securities Group, The Bank of New York's institutional agency brokerage and correspondent clearing sector, announced today that it has launched an Internet portal for its commission management services that will allow money managers and plan sponsors to manage their commission spending practices more efficiently. This new service will be offered through BNY Brokerage Inc., B-Trade Services LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control and Westminster Research Associates Inc., brokerage affiliates forming part of BNY Securities Group. The commission management portal has been customized and designed to the specifications of each of these brokerage units to support their business models. The commission management portal enables clients to easily and quickly access their monthly commission statements, resulting in faster report delivery. The portal also maintains an archive of previous statements and client reports, allowing access to historical information that is useful in supporting clients' compliance objectives. Through the service, clients are also able to access soft-dollar vendor invoices for the first time over the Internet. This function significantly enhances clients' ability to approve and pay these invoices and gives them greater control over invoice tracking by working directly with their account managers in an integrated and automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. workflow process. Additionally, clients can view, print or download copies of certain current regulatory releases and "best practice guides," as well as information from various sources in an easy-to-use, centralized cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. interface. The portal is expected to include an online catalog Similar to an online library or databases in the information storage respect, ‘’’online catalogs’’’ allow potential customers to browse a company’s items for sale from a different location using the internet. of investment research products and services and other features later this year. Ralph M. Mastrangelo, executive vice president of The Bank of New York The Bank of New York, abbrieviated to BNY, was a global financial services company that existed until its merger with the Mellon Financial Corporation on July 2, 2007.[1] The bank now continues under the new name of The Bank of New York Mellon Corporation. and deputy head of BNY Securities Group, said, "The launch of this client-oriented commission management portal further demonstrates our position as the premier provider of commission management services and our commitment to enhancing the services available to our clients. The goal of BNY Securities Group is to offer the industry's most innovative products and services at every stage of the investment lifecycle. We are continuing to invest in the infrastructure and capabilities required to be the industry's platform of choice for managing commissions." BNY Securities Group is the global agency brokerage and clearing sector of The Bank of New York that provides "The Power of Choice" through business models that offer innovative solutions in trade execution, securities clearance, commission management and independent research to institutions, broker-dealers and corporations. BNY Securities Group is the largest provider of commission management services, has 17 New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. seats, and offers global execution and clearing services in over 65 markets with offices in the U.S., Europe and Asia. BNY Securities Group comprises BNY Brokerage Inc. (including its U.S. Division, BNY Global Transition Management); BNY Clearing Services LLC (including its U.S. Divisions, BNY Global Clearing Services, G-Trade and G-Port) and BNY Direct Execution Inc., a subsidiary of BNY Brokerage Inc., each company a member NYSE/SIPC; B-Trade Services LLC and Westminster Research Associates Inc., each company a member NASD/SIPC; G-Trade Services Limited, member of the Bermuda Stock Exchange The Bermuda Stock Exchange (BSX), established in 1971, is now the world’s leading fully electronic offshore securities market, with a current market capitalization (excluding mutual funds) in excess of US$300 billion. ; and BNY Jaywalk jay·walk intr.v. jay·walked, jay·walk·ing, jay·walks To cross a street illegally or in a reckless manner. [From jay2, inexperienced person. , Inc. The Bank of New York, founded in 1784 by Alexander Hamilton, is the United States' oldest bank and is the principal subsidiary of The Bank of New York Company, Inc. (NYSE NYSE See: New York Stock Exchange : BK), a financial holding company. With over $77 billion in total assets as of December 31, 2002, the Company provides a complete range of banking and other financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. to corporations and individuals worldwide through its basic businesses, namely, Securities Servicing and Global Payment Services, Corporate Banking, BNY Asset Management and Private Client Services, Retail Banking, and Global Market Services. Additional information on the Company is available at www.bankofny.com. |
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