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BNY Securities Upgrades Commission Management Portal
BNY Securities enhanced its commission-management portal to improve commission reporting transparency and assist asset-management clients in managing their increased regulatory obligations. Through its portal, InterComm, BNY will now offer a daily account snapshot that will provide a day-to-day and year-to-year breakdown of trading commissions generated for the purchase of independent research.
"Our enhanced InterComm portal sets the standard for the kind of commissions cost breakdown that will help asset managers deal with the disclosure of commissions and how they are utilized," stated Joseph Velli, senior executive vice president of The Bank of New York and head of BNY Securities, in a press release.
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