The Bank of New York has acquired third-party investment research aggregator Jaywalk. Financial terms were not disclosed.
Founded in 1999, Jaywalk brings together top independent research providers on one platform, offering quantitative, fundamental, technical, sell strategy and intellectual property analyses covering thousands of securities. Investors can design the system to track specific lists of stocks, portfolios and research, as well as rating changes.
Under terms of the transaction, Jaywalk will be an affiliate of Westminster Research Associates - part of BNY Research, Commission and Payment Services.
Joseph Velli, senior executive vice president who is responsible for the bank's Brokerage and Clearing Services sector, says: "Jaywalk's platform for independent research and commission management services will fully complement the bank's comprehensive range of services to the institutional community."