The Bank of New York Mellon's Pershing Unit Establishes Its First Clearing Relationship in Scandinavia
February 04 2009 - 8:00AM
PR Newswire (US)
Agreement with Nordnet Bank AB enables Pershing to continue
expanding its global reach JERSEY CITY, N.J., Feb. 4
/PRNewswire-FirstCall/ -- Pershing LLC, a subsidiary of The Bank of
New York Mellon Corporation, announced today that it has
established a business relationship with Nordnet Bank AB (Nordnet).
The relationship enables Pershing to provide Nordnet with its
comprehensive array of clearing and trading services solutions for
Australian, Canadian, U.K. and U.S. dollar equities. Nordnet is
headquartered in Stockholm, Sweden and is a leading online broker
in the Nordic region. Pershing's agreement with Nordnet represents
its first clearing relationship in Scandinavia and builds upon
nearly a century of business growth in the Nordic region for The
Bank of New York Mellon. The agreement also extends Pershing's
international reach and reflects its long-term commitment to
continue working closely with many of the world's leading
institutional and retail financial organizations to help them grow
their businesses. Martin Andersson, head of trading at Nordnet,
said, "We selected Pershing because of its global reach and robust
clearing and execution services in more than 65 markets worldwide.
Pershing's experience and breadth of services and solutions will
provide us with the support we need to achieve continued success."
Frank La Salla, managing director of the global securities services
group at Pershing said, "Nordnet is one of the largest and most
highly regarded financial institutions in Sweden. We are pleased to
have the opportunity to work closely with Nordnet and are confident
that our consultative approach, trading solutions and expertise
will help them better serve their clients and grow their business."
The Bank of New York Mellon has relationships in the Nordic region
dating back to the early 1900s and conducts business through its
London office and newly established relationship management office
in Copenhagen. In addition to being the global leader in asset
servicing, The Bank of New York Mellon is one of the largest asset
managers, treasury services providers and depositary receipt banks
both regionally and globally. 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. Financial
organizations, investment professionals and independent registered
investment advisors depend on Pershing's depth of experience and
consultative approach to provide them with forward-thinking
solutions that help them to grow their businesses. 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/. 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/.
DATASOURCE: The Bank of New York Mellon Corporation CONTACT:
Barbara Gallo, +1-201-413-2930, Web Site: http://www.bnymellon.com/
http://www.pershing.com/
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