BNY Mellon Outsources Trading For Buy-Side Customers

BNY Mellon Capital Markets, LLC has added xBK, a division for buy-side trading, to its outsourced trading service.

xBK is a giant in the world of buy-side institutions. Its Investment Management arm brings in more than $1 trillion per year.

Customers can manage their assets more efficiently and spend less money due to the service. They will be able to use BNY Mellon’s investment services, and the improved trading should be automated and make work easier.

In a press release about the news, Dragan Skoko, the head of outsourced trading and xBK at BNY Mellon, talked about how investments in technology will improve the institution’s asset management services.

Skoko observed:

“The asset management industry is at a critical inflection point as it continues to address fee pressures, higher operating costs, increased trading complexity, and heightened regulatory requirements. Against this backdrop, we have expanded access to our deep execution expertise and invested heavily to build a cutting-edge technology stack. We are ready to meet our clients wherever they are along their journey to reduce costs, enter new markets faster or expand their investment product line-up.”

CEO of BNY Mellon’s markets and execution services, Adam Vos, said:

“We are committed to supporting the buy-side as they position themselves for long-term growth and competitiveness. By leveraging the full scale of the BNY Mellon enterprise, combined with our expertise in trading, we are uniquely positioned to provide a high-quality outsourced trading offering to our clients worldwide.”

BondIT recently got $14 million from a group of investors led by BNY Mellon.