BNY Mellon

Pricing is largely basis‑point driven with competitive pressure from State Street, Northern Trust and universal banks. BNY can raise price selectively where complexity and value are high (collateral, data/analytics, depositary receipts, tri‑party repo, Pershing platform bundles), but broad take‑rate expansion is limited.

Mix shift, operating leverage and technology (AI automation, straight‑through‑processing, T+1 readiness) can expand margins without headline fee hikes. Interest‑rate sensitivity boosts or compresses net interest income. Net: moderate latent pricing power through value‑based packaging, but not dominant.