BNY Mellon is set to offer its buy-side trading solution to Goldman Sachs Asset Management as the firm continues to expand the reach of its outsourced trading offering across the market.
The new buy-side trading relationship specifically concerns a division of Goldman Sachs Asset Management’s EMEA business, The TRADE understands.
As part of the agreement, BNY Mellon is delivering global trade execution services in EMEA, the US and APAC markets across fixed income, FX, derivatives and ETFs.
BNY Mellon’s buy-side trading solutions business was launched last year, providing a flexible solution. As the firm explained, “outsourced trading does not have to be a one-sized fits all approach, it can be customised to meet your needs”.
Currently, the offering includes a ‘partial outsourcing’ offering wherein a supplemental service is offered, as well as ‘full outsourcing’ where the firm assumes the responsibilities of the trading desk. It supports institutional clients with global multi-asset trade execution services across over 100 countries.
Read more: The Outsourced Trading Handbook 2023
“BNY Mellon is proud to support Goldman Sachs Asset Management’s sophisticated trading needs as they grow their world class investment platform,” said the firm in an official statement.
Outsourced trading is a trend which continues to be on the rise, whether full outsourcing or a supplement to the trading desk, more factors are pushing firms towards the service.
The attention has been increasingly turning to larger managers and while for the C-suite it might be an obvious economic decision, for many on the trading desk the topic continues to be a somewhat contentious one.