The Bank of New York Mellon's Pershing Unit Introduces NetX360(TM)
June 03 2009 - 8:00AM
PR Newswire (US)
Revolutionary, Technology Platform Provides Introducing
Broker-Dealers, Investment Professionals, Independent Registered
Investment Advisors and Dually Registered Advisors with a Complete
Solution to Help them Efficiently Manage their Entire Business
JERSEY CITY, N.J., June 3 /PRNewswire-FirstCall/ -- Pershing LLC, a
subsidiary of The Bank of New York Mellon Corporation, announced
today that it has introduced NetX360(TM), an innovative and
open-architecture technology platform for introducing broker-dealer
firms, investment professionals, independent registered investment
advisors (RIAs) and dually registered advisors. This new offering
provides Pershing's customers with a complete solution to help them
effectively meet their clients' financial goals. It also enables
them to efficiently manage their brokerage and advisory business on
a single, integrated platform. NetX360 builds on a wide range of
solutions previously provided through Pershing's industry-leading
NetExchange Pro(R) and Advisor(R) online brokerage platforms and
Pershing Managed Account Solutions' managed account workstation.
The new platform offers introducing broker-dealers and RIAs with
the ability to fully integrate front- and back-office functionality
from an unprecedented number of best-in-class, third-party solution
providers across a broad array of critical business areas,
including relationship management, portfolio and tax-lot
accounting, compliance monitoring, trading, clearing and
settlement, performance reporting and rebalancing. NetX360 enables
Pershing's customers to: -- Increase Efficiency -- NetX360 is
highly customizable and offers advanced functionality to streamline
workflow and navigation. New features include: --
Relationship-based navigation that provides Pershing's customers
with a customizable dashboard and a global view of their clients'
entire portfolio of accounts, which enhances the ease and
efficiency of client management tasks; -- Enhanced processing
efficiency via straight-through-processing as well as integrated
workflow tools and related links; and -- Multiple tabs and
launchable windows designed to help introducing broker-dealers and
RIAs efficiently initiate and process several different functions
simultaneously. -- Grow Their Business -- NetX360 offers Pershing's
customers an array of best-of-breed solutions to help them grow
their global businesses in a way that best suits their strategic
objectives. These capabilities include: -- Market data, tools and
analytical capabilities that help investment professionals and RIAs
identify potential revenue generating opportunities for both new
and existing clients; -- Document management solutions designed to
ease the transition to a paperless office and compensation
management tools offered through Pershing's affiliate, iNautix
(USA) LLC, to help manage commission structures; and -- Operational
scorecards and detailed activity reports that enable broker-dealers
and RIAs to better manage their workforce and client service
experience. -- Enhance Compliance Oversight -- Pershing's customers
can access a comprehensive suite of compliance solutions from
Actimize and National Regulatory Services. These tools include: --
Anti-money laundering and trade surveillance solutions for
monitoring and mitigating money laundering risks and a broad
spectrum of compliance challenges; -- A sales practices solution
offered through Pershing's affiliate, iNautix (USA) LLC, that helps
introducing broker-dealers manage a vast range of compliance
issues, including suitability, registration and sales supervision
of various instruments such as equities, mutual funds and
annuities; -- Templates for developing tailored attestations,
regulatory updates and written supervisory policies and procedures;
and -- Tools to help broker-dealers better manage license and
registration information for their investment professionals. --
Access Industry-Leading Solution Providers -- NetX360 provides
Pershing's customers with greater access to premium functionality
and a broader array of industry-leading, third-party solution
providers. Examples of new capabilities that will be accessible
through the platform include: -- A customizable performance
reporting tool that helps investment professionals and RIAs better
manage the performance of their clients' portfolios; -- A robust,
client relationship management solution that provides advisors and
investment professionals with the ability to better manage client
information and prospecting opportunities; and -- Financial
planning software that enables investment professionals and RIAs to
create, implement and maintain investment strategies that best suit
their clients' financial goals. Brian T. Shea, president and chief
operating officer of Pershing LLC, said, "The continued trend
towards dual registration and advisory business helped shape our
strategy for developing an integrated technology platform for
introducing broker-dealers, investment professionals, RIAs and
dually registered advisors. The launch of NetX360 enables our
customers to efficiently build and manage their entire business via
a single solution, which will greatly enhance their ability to
serve their investors." Suresh Kumar, chief information officer of
Pershing LLC, said, "The launch of NetX360 marks the culmination of
nearly two years of development, rigorous testing and customer
feedback, and is one of the most innovative technology solutions we
have introduced to our customers in our 70-year history.
Approximately 500 of our technology experts have worked diligently
to incorporate and develop a wide range of tools, advanced
navigation and workflow that makes this offering revolutionary.
This new next-generation platform underscores our continued
commitment to develop and deliver industry-leading functionality
and technology capabilities for introducing broker-dealers,
investment professionals, RIAs and dually registered advisors."
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 20 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, 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 $19.5 trillion in assets
under custody and administration, $881 billion in assets under
management, services more than $11 trillion in outstanding debt and
processes global payments averaging $1.8 trillion per day.
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.pershing.com/
http://www.bnymellon.com/
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