Globally, 279 new clients entered into commission recapture programs with LJR Recapture Services, up from 217 in 2005, a 29% increase, year- over-year. This number represents a record high for LJR Recapture Services since joining The Bank of New Yorkâs affiliate BNY ConvergEx Group (formerly BNY Securities Group) in 2005.
"On behalf of all commission recapture providers, this is very encouraging news," said Todd W. Burns, Senior Managing Director and Division Head of LJR Recapture Services. "The continued customer growth in our business reflects ConvergExâs ongoing commitment to providing the best service and product innovations to our clients. Our record numbers also illustrate that plan sponsor clients continue to realize the value of commission recapture programs."
LJR Recapture Services continues to take a leadership role in commission recapture as one of the first providers of recapture services overseas and as one of the first to expand commission recapture to OTC trades. Most recently, LJR Recapture Services became one of the first providers to offer commission recapture to clients using both broker-assisted and electronic trading platforms.