BNY Mellon has announced that it has expanded its real-time electronic messaging service for ETF order taking.
This is the latest addition to enhancements made over the last several months — 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—according to the firm.
This most recent release, it adds, provides a new global standard for clients to transmit creation and redemption orders through a proprietary electronic message. The extended message structure supports all order types in all domiciles where the firm provides ETF services.