August 27, 2015

Reuters: BNY Mellon pricing glitch affects billions of dollars of funds

"BNY Mellon Corp was scrambling to fix a computer glitch on Wednesday that has delayed how billions of dollars of assets are valued, throwing the U.S. funds industry into disarray and damaging the reputation of the world's largest custody bank," according to an article in Reuters.
"No one here can understand why it's not up and running yet," said one executive at a firm that was affected.
Unfortunately for investors, this problem came at a bad time to add more uncertainty in the markets.
Thank you, Reuters, for adding my thoughts.
Read the full story here.

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