BNY Mellon Receives Key Patents for Processes Used in Commodities ETFs
NEW YORK, March 8, 2013
NEW YORK, March 8, 2013 /PRNewswire/ --BNY Mellon, the global leader in
investment management and investment services, has been awarded three patents
for key processes that enable electronic trading of commodities such as gold
through exchange-traded funds (ETFs). Commodities covered by the patents also
include silver and other precious metals as well as base and industrial
"These patents recognize that BNY Mellon has created an innovative process
that transforms a metal and other commodities that typically are cumbersome
into easily traded securities," said Joseph Keenan, head of Global ETF
Services for BNY Mellon. "This formal affirmation of our intellectual
property cements our ability to act as a catalyst to drive the continuous
innovation that defines the ETF industry."
"It's gratifying to see the spectacular growth of commodity ETF assets since
we launched this unique process in 2003," said Jonathan Spirgel, co-inventor
of the processes and executive vice president for BNY Mellon. "It demonstrates
the importance of these patents and the innovative impact BNY Mellon has on
In addition to creating the commodities ETF business, which today consists of
nearly $100 billion in commodity assets administered, BNY Mellon also serves
as custodian, record keeper or administrator for approximately half of all
U.S. listed ETFs across a broad range of asset classes.
Notes to Editors:
BNY Mellon Asset Servicing offers clients worldwide a broad spectrum of
specialized asset servicing capabilities, including custody and fund services,
securities lending, performance and analytics, and execution services. BNY
Mellon Asset Servicing provides services through BNY Mellon and other related
BNY Mellon is a global investments company dedicated to helping its clients
manage and service their financial assets throughout the investment lifecycle.
Whether providing financial services for institutions, corporations or
individual investors, BNY Mellon delivers informed investment management and
investment services in 36 countries and more than 100 markets. As of December
31, 2012, BNY Mellon had $26.2 trillion in assets under custody and/or
administration, and $1.4 trillion in assets under management. BNY Mellon can
act as a single point of contact for clients looking to create, trade, hold,
manage, service, distribute or restructure investments. BNY Mellon is the
corporate brand of The Bank of New York Mellon Corporation (NYSE: BK).
Additional information is available on www.bnymellon.com, or follow us on
SOURCE BNY Mellon
Contact: Mike Dunn, +1-212-922-7859, firstname.lastname@example.org
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