NEWS UPDATE
SELL-SIDE
BNY Mellon unveils directto-custody trading platform
The platform will provide clients with a real-time view of cash balances and positions .
BNY Mellon has announced the launch of its new digital direct-to-custody trading solution for clients ’ investment and cash management needs . Named NEXEN Markets , the platform is designed to enable clients to place equity , ETF and US Treasury orders directly from their accounts .
The platform provides clients with a real-time view of cash balances and positions , with a view to supporting straight-through processing and mitigating settlement and operational risks .
Additional features include direct electronic order communication from custody accounts , real-time trade execution data , price stream for click-to-trade capabilities , and automated end-to-end processing from trade to settlement .
BNY Mellon ranks among the top 12 dealers in executive Treasury bill volume on Bloomberg and is an authorised participant for over 40 ETF issuers .
SELL-SIDE
JP Morgan OEMS Neovest acquires LayerOne Financial to bolster hedge fund offering
Acquisition will allow the Neovest OEMS to offer hedge fund clients integrated execution , order , and portfolio management services through a unified platform .
JP Morgan subsidiary Neovest has moved to expand its capabilities in the hedge fund sphere with the acquisition of investment management platform LayerOne Financial . The deal is intended to allow the multiasset and broker neutral order and execution management platform to offer integrated execution , order and portfolio management services .
Both Neovest and LayerOne Financial champion the open platform approach . Once integrated , the enhanced Neovest platform will be available to hedge funds in a modular format .
Users will be able to send orders to their brokers , manage positions , monitor portfolios , and conduct risk assessments and compliance checks from a unified platform .
8 // TheTRADE // Q1 2024