Aggregate wins
Pershing, the broker-dealer subsidiary of the Bank of New York Mellon, has consolidated its position as an industry heavyweight with the August launch of an online portal giving investment advisers access to hundreds of products. So how does it see the industry progressing in these difficult times? By Sophia Morrell.
From its perspective as a large-scale aggregator, New Jersey-based Pershing sees most of what is happening in the US issuance and broker-dealer space, from reverse convertibles to principal-protected notes to certificates of deposit (CDs). In August, the firm's structured products offering went live on its BondCentral online platform in partnership with TradeWeb, offering up to 300 products. The service operates on an open architecture model, or, as Pershing's director of the money market
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