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The Kissin' Cousins of Clearance and Settlement

Traders Magazine, September 2002

Peter Chapman

With its acquisition of B-Trade Services this February the Bank of New York brought together two kissin' cousins for the first time. G-Trade Services and B-Trade Services both provide execution, clearing and settlement for Bloomberg Tradebook, the agency brokerage division of the market data giant. G-Trade handles the foreign orders and B-Trade the domestic.

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