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SAFEKEEPING

Pershing LLC, a BNY Mellon company, offers safekeeping and clearing for all First Empire Securities clients on a fully disclosed basis. We have been clearing through Pershing since 2003. As the industry's leading provider of clearing services, Pershing brings unsurpassed commitment to delivering exceptional operational support.

As of December 31, 2016, Pershing has approximately $1.5 trillion in global client assets held in custody. The parent company, The Bank of New York Mellon Corporation, has $29.9 trillion in assets under custody administration and $1.6 trillion in assets under management.

 

Pershing is a member of the Securities Investment Protection Corporation (SIPC). As a leading global provider of financial business solutions for almost 75 years, Pershing is committed to the safekeeping of client assets. There is no additional charge for safekeeping or money wire transfers for clients of First Empire Securities.

First Empire clients have 24/7 online access to their account through Pershing’s secure login section above. All safekeeping services are free, including:

  • Safekeeping of assets

  • Money wires

  • Asset movements

  • Account transfers

  • Collateral accounts

  • Federal Reserve Bank pledge accounts

Federal Reserve Discount Window Support

Through Pershing, First Empire Securities can help depository institutions establish a line of contingency funding through the Federal Reserve Bank’s discount window. Our FRB Discount Window Support program:

  • Offers guidance in creating a relationship with the Federal Reserve’s discount window

  • Provides a single point of coordination in processing transferred securities

  • Consolidates cash flows between safekeeping and collateral accounts

  • Offers no-cost transfers or maintenance of the collateral securities

Insured Bank Deposit Program

Clients who safekeep with our clearing firm can earn interest on cash balances through the Cash Management Sweep program, which offers competitive interest rates and FDIC insurance on cash balances in their brokerage account up to $2.5 million. 

Understanding the Protection of Client Assets

Disclosure Statement

Important Disclosures  |  Privacy Policies  |  Business Continuity Plan | Risk Disclosures  |  Volcker Rule Conflicts Disclosure

This site is published in the United States for U.S. residents only. The services offered within this site are available exclusively through our U.S. Financial Advisors. Stifel Financial Advisors may only conduct business with residents of the states in which they are properly registered. The information on this web site is not an offer to sell or a solicitation of an offer to buy any security, nor shall any such security be offered or sold to any person in any jurisdiction in which such offer, solicitation, purchase, or sale may not lawfully be made. References to Stifel herein may apply to parent company Stifel Financial Corp. or any of its wholly owned subsidiaries, including Stifel, Nicolaus & Company, Incorporated, Member NYSE, FINRA, and SIPC.


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