BNY Develops Commission Management Site

March 25, 2003 ( - Plan sponsors and other institutional investors may have an easier time tracking their commission expenses through a new Web site offered by the BNY Securities Group.

BNY Securities Group, Bank of New York’s institutional agency brokerage and correspondent clearing unit, said the new site has been customized to support BNY Brokerage Inc., B-Trade Services LLC, and Westminster Research Associates Inc. –  all BNY Securities Group brokerage affiliates.

According to a BNY news release, the Web site gives clients:

  • quicker access to current and past monthly commission statements
  • access to soft-dollar vendor invoices over the Internet. According to the company, this function gives clients control over invoice tracking by working directly with their account managers online
  • print or download ability for regulatory releases and best-practice guides.

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