Pershing LLC, a subsidiary of The Bank of New York Company, Inc., has enhanced its fixed income market-making capabilities by becoming a new market maker on NYSE Bonds, the New York Stock Exchange’s (NYSE) innovative electronic corporate bond trading platform. The company announced the development on April 24, 2007.
As a NYSE Member and market maker on the NYSE Bonds platform, Pershing’s fixed income trading desk will be a liquidity provider and will have the ability to electronically enter orders to buy or sell bonds listed on the platform. This new pool of liquidity will enhance Pershing’s fixed income offering for its introducing broker-dealer customers and the clients they serve, and to independent registered investment advisors and their clients through Pershing’s affiliate, Pershing Advisor Solutions LLC.
Pershing makes a market in eight fixed income asset classes, including investment-grade and high-yield corporate bonds, municipal securities, agencies, mortgage-backed securities, U.S. Treasuries, preferred stock, money market instruments and emerging market debt.