BNY Adds to DR Web Site, Buys Administrator

October 28, 2002 ( - The Bank of New York (BNY) on Monday has announced the acquisition of an alternative investment fund administrator and the launch of depositary receipt analytics on its Web site.

According to a news media announcement, BNY added interactive analytics to the bank’s  depositary receipt website . The addition is designed to evaluate price performance and trading volume of all exchange-traded depositary receipts, according to BNY.

Key performance tables are designed to spotlight the market’s top performers.  In addition to “Top 50 Most Active DRs” and “Top 50 Most Active DRs with Price Up/Down,” users may view “Top 50 Price Performers” by both daily and year-to-date percentage change, BNY said.

An additional feature is a comprehensive table of all exchange-listed DRs in the marketplace and their related intra-day and year-to-date price movements as well as the current day’s trading volume, according to the announcement.

Also Monday, BNY announced it had agreed to acquire the assets of International Fund Administration Ltd. (IFA), the Bermuda-based, alternative investment fund administrator. The transaction is subject to regulatory approval.

Terms were not disclosed.

According to the announcement, IFA specializes in servicing alternative investment vehicles, such as hedge funds and separately managed accounts. IFA currently has servicing locations in New York, Bermuda and California.