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BNY Mellon Announces New Enhancements to its ETF Order Capabilities


BNY Mellon today announced an expansion of its real-time electronic messaging service for ETF order taking.  This enhancement is part of an ongoing strategic effort to improve the primary market transactional experience for Authorized Participants (APs) and Market Makers (MMs).

Over the past several months, BNY Mellon has made a number of significant enhancements to its ETF order taking capabilities, consisting of integration with the Bloomberg “BSKT” fixed income basket negotiation tool, custom order approval optionality for ETF portfolio managers, and advancement of its basket execution services. The latest release offers a new global standard to BNY Mellon’s clients worldwide for transmitting creation and redemption orders through a proprietary electronic message.  The extended message structure supports all order types in all domiciles where BNY Mellon provides ETF Services.

“We are excited to advance our suite of order management solutions and better service the rapidly growing ETF industry by offering a global standard for electronic ETF order placement,” said Jeff McCarthy, CEO of Exchange Traded Products at BNY Mellon. “Our infrastructure supports primary market dealing automation and STP through the ability to interact with both liquidity providers and third party primary market dealer platforms.”

The benefits to this functionality include speed gains and mitigated risk by eliminating manual entry within BNY Mellon’s ETF order taking portal, ETF Center, and by offering direct connectivity to liquidity providers and third party order platforms. Through real-time transmissions and status updates, BNY Mellon offers a way for APs and MMs to effectively manage the growing volume of activity in the primary market. The service blends the arbitrage mechanism with electronic order messaging, providing a more efficient inventory management order entry service into market close, implying reduced total costs and improved spreads for ETFs trading in the secondary market.

Gary Buxton, EMEA ETF Chief Operating Officer at Invesco, said, “BNY Mellon’s enhancements across primary market dealing has enabled Invesco to leverage our proprietary primary market dealing platform across our entire European exchange traded fund product suite-enabling straight-through-processing across order entry, portfolio manager approval, reconciliation & share issuance.”

BNY Mellon
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries. As of September 30, 2018, BNY Mellon had $34.5 trillion in assets under custody and/or administration, and $1.8 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on Follow us on Twitter @BNYMellon or visit our newsroom at for the latest company news.

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