Neovest offers trading tools

In wake of the BoNY-Mellon merger, third-party trading technology has been made available to assist customers of Pershing. Pershing LLC and its affiliate Pershing Advisor Solutions LLC (both are subsidiaries of The Bank of New York Mellon Corporation) have added a suite of trading technology tools from Neovest (a wholly owned subsidiary of JPMorgan Chase & Co.) and made them available to their broker-dealer and RIA customers. This month saw the $17.6 billion acquisition of Pittsburgh-based Mellon Financial Corp. by The Bank of New York Co. Inc. Leveraging tools like those available from Neovest would appear to be a move to make the new company's wealth management division more competitive with the likes of Merrill Lynch & Co. Inc., and Northern Trust Corp. among others. Some of the key features include multi-asset direct market access encompassing equities and options trading; advanced electronic communication network and exchange aggregation, broker routing, crossing and algorithmic order routing aggregation. Also included are order management and risk monitoring capabilities that include real-time profit and loss, holdings, and position information; and real-time market data and analytics including technical analysis charting, scrolling news, ECN depth of book, predefined filters, and reverse filtering and alerts.