A computer glitch at BNY Mellon delayed how billions of dollars of assets are valued thereby throwing the US funds industry into confusion, just as investors were dealing with the global market meltdown caused by fears over the Chinese economy. The system, run by SunGard, went down over Wednesday and was not fully operational until the weekend, leaving the bank with a backlog of funds to price.
A computer glitch at BNY Mellon delayed how billions of dollars of assets are valued thereby throwing the US funds industry into confusion, just as investors were dealing with the global market meltdown caused by fears over the Chinese economy. The system, run by SunGard, went down over the weekend and was not fully operational until Wednesday, leaving the bank with a backlog of funds to price.