The Gateway to Algorithmic and Automated Trading

Pershing launches no-transaction-fee ETF platform

First Published 16th June 2017

BNY Mellon's Pershing launches no-transaction-fee ETF platform; Introduces FundVest ETF.

Justin Fay, Pershing

Justin Fay, Pershing

San Diego - BNY Mellon's Pershing has launched its new no-transaction-fee (NTF) exchange-traded fund (ETF) platform: FundVest ETF. The NTF platform requires no purchase minimums or holding period, and will be available to all Pershing clients.

The solution complements Pershing's existing mutual fund NTF platform, FundVest. "As the demand for ETFs continues to increase, we are pleased to bring our clients a diverse selection of no-fee ETFs offered on an independent, open architecture platform," said Justin Fay, Pershing's director of Financial Solutions, responsible for Alternative Investments and ETFs. "This new offering reaffirms our commitment to expanding the suite of low-cost investment solutions available to our clients as they continue to implement ETFs more frequently within portfolios in an effort to more efficiently meet investor financial goals."

Pershing clients will have full access to the variety of funds available on FundVest ETF via the ETF Center on NetX360. The ETF Center also includes articles and research through both Morningstar and Lipper, and provides tools that allow advisors to search, screen and compare ETFs side by side.