BNY Mellon launches hedge fund validation service

BNY Mellon Alternative Investment Services has launched a global service that independently validates a hedge fund's position records to third parties -- prime brokers, custodians, trustees and agent banks -- and verifies the pricing of that fund's securities. While price reconciliation has always been one of the firm's core offerings, says a spokeswoman, it has only now started providing clients with combined asset validation and price verification. "The events of 2008 and early 20…