Pershing expands in Canada 12 September 2012Toronto Reporter: Mark Dugdale
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BNY Mellon subsidiary and prime broker Pershing LLC has launched a Canadian affiliate, Pershing Securities Canada Limited, and opened a new offiice in Toronto as it bids to increase its presence in the Canadian market.
Pershing Securities Canada has become a member of the Toronto Stock Exchange and will offer the same products, services, solutions and technology to Canadian advisors and broker-dealers as Pershing does to its US clients.
“Now with the launch of our Pershing Canada affiliate, we can provide a full array of custody, clearing and execution services to the Canadian investment community,” said Frank LaSalla, CEO of Pershing Securities Canada, and managing director at Pershing. “This launch is a logical extension of our global strategy and affords us the opportunity to deepen the relationships we’ve already developed in the Canadian market.”
Pershing Securities Canada has successfully completed its initial testing and will bring its first client, Pershing in the US, onto its platform in Q4 2012.
Once this is completed, it will begin adding Canadian institutional and retail firms that are regulated by the Investment Industry Regulatory Organization of Canada (IIROC) to its platform.
Its new Toronto office will service institutional and retail broker-dealers, as well as investment advisors, in Canada.
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