Barclays Capital and Pershing LLC have reached an agreement that will allow Barclays to distribute new-issue offerings it underwrites through Pershing, the firms announced earlier this week.

The deal will give Pershing’s nearly 900 U.S. broker-dealer and 500 independent registered investment adviser clients access to Barclays’ new-issue calendar. The agreement makes Barclays Pershings’ exclusive provider of negotiated offerings with retail order periods, although Barclays can also distribute other new issues through Pershing, Barclays executives said.

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