BNY Mellon announced a new trade outsourcing service for asset managers this week. As of their announcement, it is available to both new clients and existing. BNY Mellon Investment Management servicing clients. The trade outsourcing service reflects ongoing trend toward front-to-back service integration among major service providers.
"Other service providers, like State Street and Northern Trust, also offer clients the ability to outsource trade execution, said Tom Secaur, chief operating officer of Citisoft, a consulting firm. 'If the major service providers all start offering the service and maturing the service, it’s going to become more viable on the technology side,' he said."
For more on this announcement and Tom's thoughts on outsourced trading, read the Ignites article here.