Pershing adds performance-report engine to NetX360

Thomas Coyle

10 August 2009

Institutional customers to get access to Black Diamond's technology. Clearing firm Pershing has added Black Diamond's performance-reporting engine to its NetX360 investment-technology platform for introducing broker-dealers and independent RIAs.

"We continuously strive to provide our customers with access to best-of-breed business and technology solutions that help them grow their businesses, maximize productivity and mitigate risk," says Pershing's chief infomation officer Suresh Kumar. "The addition of Black Diamond Performance Reporting to our NetX360 platform reflects this commitment and reinforces our firm's long-standing goal to deliver industry-leading capabilities to our customers to help them achieve their clients' financial goals."

Efficient and effective

Black Diamond's performance-reporting technology lets advisors see their clients' complete portfolios, including assets held away from Pershing. It also provides access to mission-critical business information and a range of functionalitiessuch as an intuitive, customizable homepage, flexible reporting levels, daily returns, "ad-hoc" and "batch" client-report creation, composite reporting and maintenance, cost-basis tracking and tax-lot entry and benchmark tracking.

Reed Colley, founder and CEO of Jacksonville, Fla.-based Black Diamond, says the addition of his firm's perfoamce-reporting engine to NetX360 gives Pershing's brokerage, RIA and hybrid clients "the capabilities they need to oversee their clients' investment portfolios in an efficient and effective manner."

NetX360, which Pershing launched in June 2009, is meant 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. In addition to Black Diamond, the platform provides access to third-part providers such as Interactive Data Corporation for real-time market data and analytical tools, Redtail Technology for CRM support and MoneyGuidePro for financial-planning capabilities.

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

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