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BNY Mellon expands outsourced trading to buy-side clients

BNY Mellon has launched an outsourced trading offering for buy-side institutions globally, including asset managers and asset owners. 

The offering by BNY Mellon Capital Markets, LLC will be powered by xBK, the buy-side trading division that executes more than USD1 trillion in volumes on average annually for the company’s Investment Management franchise (one of the world’s largest asset managers). The firm writes that this comprehensive, global multi-asset trading service will give clients significant opportunities for operational and strategic efficiencies, savings and expansion. 

BNY Mellon writes that the outsourced trading offering will help clients to:

•          Reduce spending on data, trading infrastructure, analytics and reporting, and all associated trade execution support functions 

•          Efficiently expand into new asset classes and regions leveraging our economies of scale

•          Improve trading outcomes through automation, innovation, and a systematic workflow

•          Access BNY Mellon’s portfolio of services across front, middle and back-office functions

•          Refocus investments toward core competencies and alpha generating activities 

Adam Vos, CEO of BNY Mellon Markets & Execution Services, says: “We are committed to supporting the buy-side as they position themselves for long-term growth and competitiveness. By leveraging the full scale of the BNY Mellon enterprise, combined with our expertise in trading, we are uniquely positioned to provide a high-quality outsourced trading offering to our clients worldwide.”

Fuelled by substantial investments across technology, data science and quantitative modelling, the company plans to offer external clients a range of services, including:

•          Coverage of all major asset classes, with the ability to transact across most global markets

•          Significant expertise in supporting complex workflows of more than 150 investment products across equity, fixed income, and global asset allocation strategies

•          Data science capabilities which utilize quantitative insights to fine-tune execution strategies, reduce transaction costs and execute trades within a risk-controlled framework 

Dragan Skoko, Head of Outsourced Trading & xBK, BNY Mellon, says: “The asset management industry is at a critical inflection point as it continues to address fee pressures, higher operating costs, increased trading complexity and heightened regulatory requirements. Against this backdrop, we have expanded access to our deep execution expertise and invested heavily to build a cutting-edge technology stack. We are ready to meet our clients wherever they are along their journey to reduce costs, enter new markets faster or expand their investment product line-up.”

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