MutualFundWire.com: Pershing Gets the Data Out
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Wednesday, May 08, 2002

Pershing Gets the Data Out


Pershing, a unit of Credit Suisse First Boston, has selected Standard & Poor's to provide information services on Pershing's NetExchange systems, Marc Butler, director of the mobile customers group at Pershing, told the MutualFundWire.com. Pershing will be utilizing S&P for its channels for both financial professionals and investors.

First, Pershing will utilize S&P's Fund Advisor and distribute it to the firm's investment professional community through NetExchange Pro. This is an Internet-based platform that provides trading and account management services. Second, S&P's stock and mutual fund reports will be distributed through Pershing's NetExchange Client, which is designed to provide information services to investors.

Pershing is already an S&P customer, at least on NetExchange Pro. The firm utilizes S&P's Stock Reports and S&P's MarketScope.

"Our customers are broker/dealers. We have developed these platforms so that they can provide them to their own brokers or end clients. The service for those clients can be privately labeled," Butler reported.

"We added this functions because of customer demand. Our clients wanted a mutual fund data tool, a research tool. We had several strategic meetings with customers, and this is what emerged. And, essentially, investors will have access to the same information system. We want to be a one-stop shop for our customers," he contended.

"We haven't gotten much feedback from the investor side of this. Our decision to implement Fund Advisor was really from the professional side," the executive continued.

Butler added that there was a group at Pershing that was continuing to explore other tools -- both from S&P and not -- to integrate onto its platforms. He noted that there was extensive material and applications for separate accounts but that there was not yet a module in place for 529 plans. The firm was investigating whether or not to expand into that space.


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