In a recent press release, Carey Park, the president of BNY Brokerage said,  Ã¢â‚¬Å“Hedge funds are increasingly receptive to our ability to deliver comprehensive, conflict-free brokerage solutions with sophisticated trading tools, customized and specialized research, and transparency in commission pricing within an agency-based model. This new unit will help us concentrate more resources on meeting the specialized needs of this rapidly growing market segment and accelerate our growth in this area.”

BNY Brokerage offers a full complement of brokerage services that address the diverse needs of plan sponsors, money managers, bank trusts, public corporations and broker-dealers. BNY offers liquidity management tools that address market fragmentation and enhance decision-making, specialized and internet-based trade order management technologies that increase productivity, a proactive approach to commission and payment management services, as well as a wide array of independent research tools to assist investment decision-making.

The Securities Group is also the largest provider of commission management services, has 21 New York Stock Exchange seats, and offers global execution and clearing services in over 80 markets with offices in the U.S., Europe, Asia, and Australia.

The new hedge fund unit should serve to balance out the investment power of the Brokerage in this rapidly growing segment of the market.