Front-End Switch for BNY clients
OPERATIONS AND STP
NEW YORK--The Bank of New York (BNY) will rely primarily on the technology of Pershing as it integrates customers from the former clearing and outsourcing subsidiary of Credit Suisse First Boston (CSFB), meaning a front-end conversion for BNY customers.
Although executives initially stated that Pershing's core clearing and execution platforms would become the platform of choice (TTW, Jan. 13), with the front end from BNY's Compass system providing a "wrapper", it has since been decided that most
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