BNY Mellon (NYSE: BK) and GLMX announced today a new integration allowing buy-side clients to direct repo trades at point of execution to BNY Mellon’s Triparty platform.
This integration follows growing demand from clients seeking to expand their BNY Mellon Triparty usage beyond Uncleared Margin segregation into repo financing, helping them to capture more benefits from being on the world’s largest collateral platform.
“This integration with GLMX re-enforces our commitment to enhance the user experience for our growing buy-side client base on Triparty,” said Ted Leveroni, Head of Margin Services, BNY Mellon. “In our 240th year of business, we are proud to utilize our expertise to form relationships that provide innovative solutions and capabilities for our clients.”
“Building interoperability with BNY Mellon creates a seamless workflow from negotiation and execution to settlement for our global clients,” said GLMX CEO Glenn Havlicek. “This step is consistent with GLMX’s objective of providing a single access point which connects the global money market to deep liquidity pools, regardless of trade structure, settlement type or trading instrument.”
This integration connects BNY Mellon, the world’s largest collateral manager with a $5.25 trillion Triparty liquidity pool, into GLMX’s $2 trillion network. It also addresses the increasing market demand for buy-side clients looking for a single ecosystem to manage both their collateral and liquidity requirements.