This new service centralizes information that broker dealers previously obtained from multiple sources, reducing the time required to access the information.
It also provides a snapshot view of daily trading information that requires action by broker dealers, streamlining their workflow, said BNY Mellon Asset Servicing.
In addition, NEWS provides comprehensive information and notifications of events from BNY Mellon’s mutual fund clients such as mergers, liquidations, bad prices, new funds and conversions.
NEWS is accessible through AdvisorCentral, BNY Mellon Asset Servicing’s web portal for financial advisers and broker dealers.
Michael DeNofrio, executive vice president and head of US0 investment services within BNY Mellon Asset Servicing’s Global Financial Institutions group, said as a trusted service provider, their clients have come to expect value-added products from them that provide insight and information into their business and the overall industry.
"Whether it is business intelligence or enhanced reporting, the timely delivery of information is critical. By adding NEWS to AdvisorCentral, we can streamline the workflow process for clients by providing a consolidated view of available industry capabilities, along with valuable associated information," DeNofrio.
