Pershing LLC is a subsidiary of BNY Mellon. It (and its affiliates) serves as the clearing firm for hundreds of broker-dealers around the world. I would like to get a list of firms that Pershing clears for. It is not likely to be on any public web...

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Pershing LLC is a subsidiary of BNY Mellon. It (and its affiliates) serves as the clearing firm for hundreds of broker-dealers around the world. I would like to get a list of firms that Pershing clears for. It is not likely to be on any public website, but probably buried in some regulatory filings.

Hello! Thank you for your request to provide you with a list of firms that Pershing LLC clears for. I understand that our initial response did not provide enough company names for your needs. As such, after extensive research, I have identified 400 more companies that use Pershing LLC as their clearing company. You will find the 25 companies found on the first request and the 400 companies I found on the attached spreadsheet. My methodology and summary of results are below.

Methodology

To find additional companies that use Pershing LLC as a clearinghouse, I performed a variety of searches. First, I attempted to find pre-compiled information using Pershing's regulatory filings as you suggested. Unfortunately, as my colleague found in the original response, Pershing does not publish this information. However, I discovered that if investment, security, and financial advisement companies use a clearing firm, they are required to disclose that information to their clients. This allowed me to perform x-ray searches of broker-dealer websites to pull out any information about their clearing firms. This was mildly successful, but took a very long time to do.

A couple of hours into my research, I switched tactics and performed targeted Google searches for companies that clear through Pershing, business continuity plans (which always provide the name of the clearinghouse used), and lists of broker-dealers and their clearing houses. There were several lists of top broker-dealers and the clearing firms they use, so I started there. Then, I found the majority of the companies that ended up on the list by finding their business continuity plan. In the end, I was able to identify 400 additional companies that clear through Pershing and I added them to he 25 already on the spreadsheet.

When I finished finding the companies that clear through Pershing, I sorted the spreadsheet alphabetically by company name to ensure I did not duplicate any firms. After carefully reviewing the spreadsheet, I believe the list contains 425 unique companies that use Pershing for their clearing activities.

Please note: there may be other companies that clear through Pershing; however, I was unable to continue my search due to time constraints. I believe I found the majority of companies, but if you would like us to continue searching, please submit another request and we will be happy to add to the spreadsheet to ensure we have an exhaustive list of Pershing clients.

Conclusion

To wrap it up, I have identified 400 companies that clear through Pershing LLC and have added the to the spreadsheet from the initial response to give you a total of 425 companies that use Pershing LLC as their clearinghouse.

Thank you for using Wonder! Please let us know if we can help you with anything else.

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