BNY Mellon
Martin H. McElligott
Managing Director
240 Greenwich St
New York, NY 10286
412-234-5999
Year SA services began: 1987
As the first and largest third-party provider of subaccounting in the U.S., with more than 155 million active positions, BNY Mellon has the in depth knowledge and experience to support firms looking to aggregate customer trades and accounts. We have proudly transformed the industry by developing capabilities to support omnibus recordkeeping beyond traditional mutual funds and our solution can be applied across management companies to provide a holistic view of assets across investors or households.
BNY Mellon’s flexible service model offers remote, hybrid or full service arrangements that allows you to leverage our technology and services according to your individual needs, across all segments and channels (private client, RIA, clearing / bank). Our technology provides for the seamless transition of operations to optimize resources and rapidly introduce new products and services.
We are continually investing and improving our subaccounting platform to support industry growth. Our automated capabilities, along with our asset allocation and wrap program, allow for more efficient and cost effective processing for mutual funds, 529 Plans, cross border funds and 40’ Act hedge funds, helping you to enhance distribution opportunities.
Functionality includes:
• Access to mutual fund subaccount detail through a single database and interface, including complete contingent deferred sales charge (CDSC) lot data and hypothetical redemption results with the ability to store account level financial transaction history for extended periods
• Web-enabled platform with tools supporting account inquiry and transaction processing, interfaces with all major recordkeeping platforms and the DTCC, and is customizable to proprietary applications
• Functionality to support multiple fund pricing, including Right of Accumulation and Letters of Intent, as well as the flexibility to perform CDSC procedures for the same intermediary
• Automated order/reconciliation across multiple fund families and multiple share classes
• Self-clearing of mutual fund trades with real-time interface capabilities and integration to core industry applications • Full commission processing support, including front, level, and rear load funds, service and revenue share fee billing arrangements
• Comprehensive mutual fund Direct Account Networking functionality, including support for broker recordkeeping
• Omnibus transparency solutions fully compatible with DTCC OmniSERV
• Support for regular and rebalance trading, dividends and reconciliations