BNY Clearing Services, a subsidiary of The Bank of New York, has been selected to provide clearing and settlement services to the proposed Internet-based fixed income trading site BondHub.
The soon-to-be-launched BondHub system is being established to provide investment advisors access to information such as real-time fixed-income offerings, market liquidity, and price transparency.
"The success of brokers depends on the quality of their clearing operations. We spent many months researching clearing systems and determined that BNY Clearing was by far the best," says Thomas Evankovich, BondHub founder and CEO.