BNY Jaywalk Launches Indie Evaluation Service

BNY Jaywalk, the research division of Bank of New York, this week launched a service to match mutual and hedge fund traders with independent research providers who make the best calls. The offering, called Jaywalk 360, evaluates Jaywalk's network of 150 indies based on historic buy and sell call accuracy and matches customers with firms that excel in their sectors of interest. The service would provide real-time call change information as well as weekly roundups. Most other research ranking services rank calls at large brokerage firms but have limited exposure to indies. Jaywalk's sales force will tout the service as a new way for the firm to be its customers' "eyes and ears in the indie space," said Nick Colas, director of research. He would not elaborate on the service's pricing, which will likely be range between $100,000 and $1 million per year.