“X's minimum viable product remains on track to launch in the fourth quarter.”

In context

“for the purpose of custodying crypto. We see this as the beginning of a much broader journey. Pershing had a solid and resilient quarter, benefiting from its diverse revenue mix that includes not only market-based fees but also transaction fees, balance base fees, subscription fees and net interest revenue with many of these income streams playing well in the current environment. We also gathered a strong $45 billion of net new assets in the quarter, and the pipeline remains healthy, boding well for flows in the months ahead. Pershing X reached another milestone through an equity investment and partnership with Conquest Planning, a fintech, which uses AI and powerful analytics tools to help advisers improve their efficiency and create highly customizable financial plans for their clients. X's minimum viable product remains on track to launch in the fourth quarter. Our client engagement, together with the product design input, which that brings is helping us to accelerate and enhance the delivery of an exciting end-to-end digital experience for advisers. Clearance and Collateral Management delivered strong growth on the back of higher U.S. clearance volumes as market volatility continues to drive secondary trading activity in U.S. treasuries. In fact, in September, settlement volumes were the highest they've been since March of 2020. We also saw growth in margin-related services, reflecting the industry-leading work that the team is doing to help our clients comply with uncleared margin rules in derivatives trading. Treasury Services achieved a number of wins this quarter as we continue to bring innovative new solutions to the market. We were awarde”