KBC Selects BNY Mellon Asset Servicing for U.S. Equity Trading Services
February 02 2009 - 6:07AM
PR Newswire (US)
LONDON, Feb. 2 /PRNewswire-FirstCall/ -- BNY Mellon Asset
Servicing, the global leader in securities servicing, has been
appointed by KBC, a leading Belgian bancassurance group, to provide
U.S. equity trading services. BNY Mellon Asset Servicing will
provide KBC with seamless trading across the complete lifecycle of
a U.S equity trade, from order capture to execution in the market,
affirmation/confirmation, clearing, settlement and reporting via
the company's BNY ExecutionPlus platform. BNY ExecutionPlus fully
integrates BNY Mellon's market-leading, custody, clearing and
settlement services with Pershing LLC's extensive global execution
capabilities, allowing financial institutions based outside of the
United States to execute and settle bank custody trades in the U.S.
equity markets via a single instruction to purchase or sell.
Pershing is a subsidiary of The Bank of New York Mellon
Corporation. BNY ExecutionPlus also provides clients with the
ability to utilise Pershing's online brokerage platform,
NetExchange Pro(R). NetExchange Pro enables investment
professionals at financial organizations to access account
information, quotes, investment research, news and other
third-party content. Luc Aspeslagh, Managing Director Securities
Services at KBC Securities, said: "BNY ExecutionPlus allows us to
address the operational risk associated with trading in the U.S.
markets and by streamlining our trading process we in turn can
provide our clients with the best possible services. It also offers
clear economic advantages, as payment of a single, bundled
commission that covers all transaction processing costs will
clearly benefit our bottom line." Nadine Chakar, Executive
Vice-President and Head of Europe, Middle East & Africa (EMEA)
at BNY Mellon Asset Servicing, said: "BNY Mellon's world-class
integrated custody capabilities and the power of Pershing's global
execution and clearing platform together deliver a single, dynamic
solution to those financial organisations seeking efficient and
accurate technology to optimise the management of their
investments. We are delighted to be working in partnership with KBC
and we look forward to assisting them in implementing further
efficiencies within their investment processes." Frank La Salla,
Managing Director of the global securities services group at
Pershing, said: "This appointment further demonstrates The Bank of
New York Mellon's ability to provide financial institutions with a
comprehensive and seamless offering to help them meet their
sophisticated trading and settlement needs. We remain fully
committed to developing and delivering market-leading solutions to
our clients as they look to grow their businesses in today's
challenging capital markets environment." Notes to editors 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 offers its products
and services through The Bank of New York Mellon and other
subsidiaries of The Bank of New York Mellon Corporation. 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
$20.2 trillion in assets under custody and administration, $928
billion in assets under management and services more than $11
trillion in outstanding debt. Additional information is available
at http://www.bnymellon.com/ KBC Securities is a wholly owned
broking subsidiary of KBC Group NV and focuses on both
institutional and retail customers. KBC Securities has established
a strong home base in Central and Eastern Europe. KBC Securities'
activities in Central Europe accounts for a large part of its
turnover. DATASOURCE: The Bank of New York Mellon Corporation
CONTACT: Tim Steele of BNY Mellon Asset Servicing,
+44-20-7163-5850, ; or Michael Geller, +1-201-413-4179, Web Site:
http://www.bnymellon.com/
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