JERSEY CITY, N.J., June 10, 2011 /PRNewswire/ -- BNY Mellon Shareowner Services today announced its ability to process sale requests on behalf of participants in stock plans or programs as individual market transactions. Shareowner Services' transfer agent clients can now offer their stock plan participants the same robust account management tools and flexibility that have been available to their employee plan participants.
Participants in stock plans or programs that include the market transaction feature will be able to select from a market order, a day limit order or a good-till-cancelled limit order, in addition to the previously available batch order.
In addition to the trading enhancements, Shareowner Services has also added greater flexibility in the disbursement options available from these sales transactions. Plan participants selling stock through one of the new market transaction methods will be able to receive their proceeds by check or wire in either US dollars or one of 28 different foreign currencies.
"These enhancements demonstrate Shareowners Services' dedication to delivering a superior experience for plan participants, whether through programs offered by our transfer agent or employee plan clients," said Anthony Thalman, managing director and head of product management, BNY Mellon Shareowner Services. "We are pleased with the positive impact this will have on corporate clients and plan participants."
BNY Mellon Shareowner Services is a leading provider of equity solutions for nearly 1,000 corporate issuers and closed-end funds and administers employee stock plans. BNY Mellon Shareowner Services offers a broad suite of products and services ranging from record keeping and corporate actions to demutualizations, dividend reinvestment administration, meeting services and employee plan administration. More information about BNY Mellon Shareowner Services is available at www.bnymellon.com/shareownerservices.
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $25.5 trillion in assets under custody and administration and $1.2 trillion in assets under management, services $11.9 trillion in outstanding debt and processes global payments averaging $1.7 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available at www.bnymellon.com.
SOURCE BNY Mellon