BNY ConvergEx Group's approach affords clients the ability to seek best execution, while consolidating the administration and management of their investment research services. SHAREx enables investment managers to credit a single, consolidated commission account from which they can pay for investment research from virtually any source. Through SHAREx, BNY ConvergEx Group combines its ongoing commitment to developing comprehensive trading capabilities that help investment managers seek best execution with client commission practices that fall within the framework of the SEC's recent release. Evolving market structure changes, such as Regulation NMS, along with the new SEC guidelines, have changed the way clients think about their commission management practices. The new SEC guidelines on client commission arrangements suggest that an effective commission management model should provide the ability to merge best execution with sophisticated commission sharing practices. SHAREx is one of the key offerings of BNY ConvergEx Group's innovative commission management model, enabling clients to manage commissions more efficiently by consolidating broker research payments with execution expertise.
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