Service agency bills NetX360 as a techno hallmark of its "70-year history". Clearing firm Pershing has launched a new open-architecture technology platform for fee-based and fee-only advisors of all stripes that integrates a range of functions already available on Pershing's NetExchange brokerage platforms and its Managed Account Solutions' separately managed account (SMA) workstation. NetX360 is supposed to give Pershing's institutional customers an end-to-end platform for serving end-clients while helping firms manage their brokerage and advisory business more effectively.

Rigorous

"The launch of NetX360 marks the culmination of nearly two years of development, rigorous testing and customer feedback, and is one of the most innovative technology solutions we have introduced to our customers in our 70-year history," says Pershing's chief information officer Suresh Kumar. "This new next-generation platform underscores our continued commitment to develop and deliver industry-leading functionality and technology capabilities for introducing broker-dealers, investment professionals, RIAs and dually registered advisors."

NetX360 lets introducing broker-dealers and RIAs integrate "front- and back-office functionality from an unprecedented number of best-in-class, third-party solution providers across a broad array of critical business areas, including relationship management, portfolio and tax-lot accounting, compliance monitoring, trading, clearing and settlement, performance reporting and rebalancing," according to a Pershing press release.

In other development at Pershing, the service agency has added three fund companies -- Neuberger Berman, Hartford Mutual Funds and T. Rowe Price -- to its FundVest no-transaction-fee mutual-fund platform. The firm has also expanded SMA program for RIAs to include a wider selection of managers and more tools and services.

Jersey City, N.J.-based Pershing, a subsidiary of the Bank of New York Mellon, is a financial business-service provider to more than 1,150 financial organizations. -FWR

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