BNY ConvergEx Group, a provider of agency brokerage and investment technology services, has launched SHAREx, its system for commission sharing arrangements for the investment management community.
SHAREx is one of the key offerings of BNY ConvergEx Group’s commission management model, enabling clients to manage commissions more efficiently by consolidating broker research payments with execution expertise.
The new SEC guidelines on client commission arrangements suggest that an effective commission management model should provide the ability to merge best execution with commission sharing practices.
Evolving market structure changes, such as Regulation NMS, along with the new SEC guidelines, have changed the way clients think about their commission management practices. Through SHAREx, BNY ConvergEx Group says that it combines its ongoing commitment to developing comprehensive trading capabilities that help investment managers seek best execution with client commission practices that fall within the framework of the SEC’s recent release.
SHAREx is designed to let investment managers credit a single, consolidated commission account from which they can pay for investment research from virtually any source. BNY ConvergEx Group’s approach affords clients the ability to seek best execution, while consolidating the administration and management of their investment research services.
Investment managers can fund their SHAREx accounts by trading with BNY Brokerage or Westminster Research Associates, both BNY ConvergEx Group subsidiaries.