BETWEEN THE LINES
BETWEEN THE LINES
BNY CLEARING SERVICES ACQUIRES SG COWAN
BNY Clearing Services, a subsidiary of the Bank of New York, announced last week that it has signed a definitive agreement to acquire the correspondent clearing business of SG Cowen Securities Corporation, pending regulatory approval. Terms were not disclosed.
Michael Viviano, CEO of BNY Clearing Services, comments, "This transaction supports our ongoing strategy of growth in the correspondent clearing business. We are certain that the correspondent firms
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