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BNY Mellon launched a new exchange-traded fund platform Thursday absent transaction fees, in hopes of drawing more of the money flowing into passive strategies and products.
The new FundVest ETF platform-which all Pershing clients will have access-requires no purchase minimums or holding period, said Justin Fay, Pershing's director of Financial Solutions who is responsible for alternative investments and ETFs.
Pershing announced it was working on the FundVest ETF platform at its 2016 INSITE conference...