JERSEY CITY, N.J., Nov. 28, 2016 /PRNewswire/ -- BNY Mellon's
Pershing today announced that they have launched BMO® Gold Deposit Receipts (GOLDRs®), a book-entry
solution for investors who want bullion in their brokerage account without experiencing the inconveniences that typically
accompany purchasing and storage. GOLDRs represents one of many solutions offered to Pershing clients who are seeking to serve
the financial needs of high-net-worth investors.
GOLDRs®, which may be held within a brokerage account, represent an investor's ownership in one ounce of
fully-allocated physical gold bullion held at the Royal Canadian Mint. The bullion is stored in a regulated gold depository
backed by the Canadian government, with no annual fees, tracking errors or derivatives that may be found in gold tracking
exchange-traded funds (ETFs).
The solution is the first of its kind to allow bullion to be held in a brokerage account, providing new opportunities for
advisors to offer an alternative means for their clients to invest in gold, outside of traditional ETFs or private storage. As
part of the offering, bullion can be conveniently redeemed for cash at spot market levels twice a day and can be delivered to an
investor upon request. In addition, there are no investment minimums to take advantage of this solution, and investors can
purchase gold bullion in quantities as small as a single ounce on the spot market.
"This is an innovative solution that has been developed to provide investors with easy access to physical gold; with a number
of benefits relative to both private storage and gold tracking ETFs, including no annual fees," said John
Goodheart, managing director of trading services at Pershing.
"As markets continue to fluctuate and the geopolitical environment remains unstable, this market-leading solution enables
investors to gain convenient and cost-effective access to gold bullion. The ability to hold GOLDRs® in a brokerage
account also allows advisors to gain a more holistic view over client assets, enabling them to provide more comprehensive
investment advice," added Goodheart.
To learn more about GOLDRs®, please contact the Structured Solutions Desk at (212) 815-5600. Visit www.pershing.com/wealth for additional information on BNY Mellon's Pershing wealth
solutions.
About BNY Mellon's Pershing
BNY Mellon's Pershing and its affiliates provide global financial business solutions to advisors, asset managers,
broker-dealers, family offices, registered investment advisor firms and wealth managers. A financial services firm located in 23
offices worldwide, BNY Mellon's Pershing provides business-to-business solutions to clients representing 6 million active
investor accounts on the U.S. platform. Pershing affiliates are members of every major U.S. securities exchange, and its
international affiliates are members of the Deutsche Börse, Australian Stock Exchange, Irish Stock Exchange, London Stock
Exchange and Toronto Stock Exchange. Pershing LLC (member FINRA/NYSE/SIPC) is a BNY Mellon company. Additional information is
available on pershing.com, or follow us on
Twitter @Pershing.
About BNY Mellon
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 35 countries and more than 100 markets. As of
Sept. 30, 2016, BNY Mellon had $30.5 trillion in assets under custody
and/or administration, and $1.72 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). Learn more at bnymellon.com. Follow us on Twitter @BNYMellon or
visit our newsroom at bnymellon.com/newsroom for the latest company news.
Paul Patella
+1 201 413 3609
paul.patella@pershing.com
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SOURCE BNY Mellon