Bank of N.Y. Mellon's Pershing to sell Barclays' municipal deals

By Jennifer Chiou

New York, June 3 - Pershing LLC and Barclays Capital Inc. announced that they have established an agreement for the distribution of new issue municipal bonds, thus allowing Pershing to offer its customers a wide range of new issue municipal bond offerings underwritten by Barclays Capital.

This agreement with Barclays Capital expands Pershing's existing municipal bond offering business and provides its introducing broker-dealer and independent registered investment advisor customers with access to a nationwide calendar of new issue municipal bond offerings, a news release stated.

Pershing's fixed-income platform includes a range of securities, such as government bonds, agencies, investment-grade and high-yield corporate bonds, preferred stock, unit investment trusts, money market offerings and structured products.

Pershing, a financial services provider, is a subsidiary of the Bank of New York Mellon Corp.

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