BNY Mellon subsidiary Pershing will provide its new solution GlobalClear to existing clients Bloxham, Execution Noble Ltd. and Northland Capital.
The custody and trading solution aims to allow investment banks and institutional broker-dealers to outsource their back-office systems and operations to Pershing, while also leveraging its global settlement network and clearing memberships with the major European exchanges and multi-lateral trading facilities (MTFs).
Tadhg Gunnell, partner at Bloxham, said: "The GlobalClear service in addition to our existing Pershing services afforded us significant trading efficiencies in Pan-European markets. The Pershing partnership approach to their services enables us to react to market developments and develop new lines of business where we see opportunities."
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