The Traderszone Network

Published in TZ Latest News 30 August, 2015 by The TZ Newswire Staff

BNY Mellon expects to fix pricing glitch before markets open

The resolution of the issue, which affected the calculation of billions of dollars of assets last week, has taken far longer than expected, CEO Gerald Hassell said on a conference call, a transcript of which was made available to Reuters. “We expect to complete Friday’s NAVs for all but one of the affected fund clients by tomorrow morning … Our goal is to provide fund clients with system-generated NAVs for Monday by tomorrow night,” Hassell said on Sunday night.

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