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The Bank of New York Selected by Legent Clearing to Clear Government Securities.
Business Editors
NEW YORK--(BUSINESS WIRE)--June 1, 2004
The Bank of New York, a global leader in securities servicing, has been chosen by Legent Clearing to clear its Federal Reserve Bank of New York eligible securities.
Jeffrey Sime, senior managing director of Legent, said, "The Bank of New York was a natural choice to be our government securities clearance provider, given its strong client focus and commitment to securities servicing."
Brian A. Ruane, executive vice president and head of the securities industry banking division at The Bank of New York, said, "We have an unrivaled record of serving and anticipating the specialized clearance needs of clients such as Legent. Legent will benefit from having access to our leading securities clearance system, through which approximately half of U.S. government securities clear."
Through its operations in Omaha, Nebraska, Legent Clearing offers trade execution, securities clearing and settlement services to broker-dealers, as well as to banks, money management firms and other financial institutions. More information is available at www.legentclearing.com.
The Bank of New York is a leader in U.S. government clearance services and also provides transaction servicing and financing to banks and broker dealers through its global securities clearance division. ...
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