The Bank of New York Mellon is moving to bring greater cohesion to key Pershing offerings, which at the same time will open pathways to the custodian bank’s more enterprise-wide offerings. BNY Mellon’s enhancements to the Pershing X Wove platform are in line with the provider’s goal to be the “most connected advisory platform in… Read More >>
BNY Mellon Adds RTP to Pershing Platform & Other News
Pershing’s NetXInvestor Supports RTP An investor portal used by broker-dealers and registered investment advisors (RIAs), NetXInvestor from BNY Mellon Pershing, will be integrating real-time payments (RTP) technology to assist clients as they manage their portfolios, officials say. “RTP is a new form of electronic money transfer that enables real-time deposits and withdrawals, giving broker-dealers and… Read More >>
Fidelity Gives a Nod to Bitcoins & Other News
Fidelity Launches a 401(k) Plan for Digital Assets Fidelity Investments will allow individuals to allocate a portion of their retirement savings to Bitcoin if their employers also agree to allow the cryptocurrency to be part of a 401(k) plan, officials say. To facilitate this change, Fidelity has launched the “workplace Digital Assets Account (DAA)” 401(k)… Read More >>
Pershing Restructures U.S. Business Group
Pershing Creates Two New Units Starting May 1, BNY Mellon’s Pershing clearing and custody provider is re-aligning its U.S. business group under two main segments — Wealth Solutions and Institutional Solutions, officials say. The realignment is an effort by Pershing to reorganize “its people, services and technology to deliver a simplified and enhanced experience and… Read More >>
Pershing Offers RIAs New Bridge to Alternatives
Pershing’s API Links to CAIS & iCapital Network Clearing and custody services provider BNY Mellon Pershing has just launched enterprise-wide, application programming interface (API) capabilities to two alternative investment sponsors, CAIS and iCapital Network, underscoring Pershing’s efforts to help registered investment advisors (RIAs) connect to the alternative investments space, officials say. CAIS and startup iCapital… Read More >>
Fifty Firms Sign Up for DTCC’s MTU
Firms Automate Margining Tasks The DTCC’s Margin Transit Utility (MTU), an automated margin call service, now has the support of 50 financial services firms that are striving to automate manual systems amid volatile markets, officials say. The MTU service includes connectivity from AcadiaSoft’s Margin Manager and DTCC’s Alert for standing settlement instructions (SSIs), links to… Read More >>
Industry Veteran Mack Gill Tapped to Be Torstone COO
Gill Leaves CEO Post at MillenniumIT Torstone Technology, the London-based provider of post-trade securities and derivatives processing, has appointed industry veteran Mack Gill as chief operating officer (COO) and as a member of the board of directors, company officials report. Gill, who will be based in London, was most recently the CEO of MillenniumIT, a… Read More >>
