JERSEY CITY, N.J., Nov. 6 /PRNewswire-FirstCall/ -- Pershing LLC, a subsidiary of The Bank of New York Mellon Corporation, announced today that it has begun making the Certificate of Deposit Account Registry Service(R) (CDARS(R)) available to its introducing broker-dealer and independent registered investment advisor (RIA) customers. This new solution will enable Pershing's customers to offer their clients an efficient way to invest large dollar amounts in FDIC-insured certificates of deposit (CDs). CDARS is managed by Promontory Interfinancial Network, LLC. CDARS provides Pershing's customers' clients with the ability to disperse deposits in individual CDs or time deposits in increments of less than $100,000 at member banks and financial organizations across the country--analogous to an investor purchasing CDs or time deposits at several local banks. It offers both individual and institutional investors access to up to $50 million of FDIC insurance per separately insurable entity. Pershing's customers' clients will also benefit from receiving one consolidated statement detailing their CD investments. Pershing is the largest clearing firm to offer CDARS to institutional and retail financial organizations and RIAs. The introduction of CDARS further enhances Pershing's ability to provide its customers with a wide range of robust trading services, which include equity and fixed income trading, international trading, flexible cutting-edge technology, operational support and best execution. This new solution is available to introducing broker-dealer firms through Pershing LLC and to RIAs via Pershing's affiliate, Pershing Advisor Solutions LLC. Ted Bragg, managing director of fixed income sales and trading at Pershing, said, "We are pleased to provide our customers with a fixed income solution that will help them maintain their clients' assets through an FDIC-insured offering. The addition of CDARS further reinforces our commitment to provide introducing broker-dealer firms and RIAs with the tools and capabilities they need to grow their businesses." Pershing LLC (member FINRA/NYSE/SIPC) is a leading global provider of financial business solutions to more than 1,150 institutional and retail financial organizations and independent registered investment advisors who collectively represent over five million active investors. Located in 19 offices worldwide, Pershing is 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, the Irish Stock Exchange and the London Stock Exchange. Pershing LLC is a subsidiary of The Bank of New York Mellon Corporation. Additional information is available at http://www.pershing.com/. Pershing Advisor Solutions LLC (member FINRA/SIPC) is an affiliate of Pershing LLC and a leading provider of financial business solutions to independent, fee-based registered investment advisors and dually-registered advisors working in conjunction with many of Pershing LLC's introducing broker-dealer customers. Additional information is available at http://www.pershingadvisorsolutions.com/. The Bank of New York Mellon Corporation is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. The company is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $22.4 trillion in assets under custody and administration, approximately $1.1 trillion in assets under management and services approximately $12 trillion in outstanding debt. Additional information is available at http://www.bnymellon.com/. DATASOURCE: The Bank of New York Mellon Corporation CONTACT: Barbara Gallo of Pershing LLC, +1-201-413-2930, Web Site: http://www.bnymellon.com/ http://www.pershing.com/ http://www.pershingadvisorsolutions.com/

Copyright