BNY Mellon announces partnerships with Bloomberg for data, AcadiaSoft for buy-side collateral management

BNY Mellon and Bloomberg announced a strategic alliance that further integrates BNY Mellon’s data, analytics, and servicing capabilities with AIM, Bloomberg’s portfolio management, trading and compliance solution. The new connectivity streamlines data delivery between the two firms and enables clients to access BNY Mellon’s data and analytical workflow tools directly through Bloomberg AIM, delivering unique capabilities and insights to investors, technology leaders, and risk and operations professionals.

With automated connectivity and standardized data delivery between Bloomberg AIM and BNY Mellon, common clients are expected to experience faster onboarding, higher straight-through processing rates and more efficient data exchanges. Clients will be able to leverage BNY Mellon’s industry-leading reporting and transaction applications together with AIM’s oversight functions, providing all the details and drill-down capabilities to support settlement cycles and accurate tradable positions in one place.

In a separate statement, AcadiaSoft and BNY Mellon announced a partnership to consolidate collateral management processes via a single interface for the buy-side to manage margin calls, calculations, reconciliations and instruct the movement of collateral. It’s the latest iteration of a previous offering that will now enable buy-side clients to concentrate their entire collateral lifecycle through their relationship with BNY Mellon and AcadiaSoft, rather than being forced to split different activities among multiple service providers.

The AcadiaSoft-BNY Mellon offering will also make compliance with the final two implementation phases of the non-cleared margin rules substantially simpler as buy-side firms come into scope in 2020 and 2021. Buy-side entities have traditionally had to contend with bifurcated elements in the collateral management workflow. These have included segregating collateral with a custodian, calculating margin and issuing margin calls themselves or relying on a central service such as AcadiaSoft, and using reconciliation services to resolve margin disputes.

Due to the scarcity of SWIFT messaging capabilities among the buy-side, at the end of a transaction market participants have traditionally had to resort to faxing or accessing dedicated portals to instruct their trade counterparty to deliver the required collateral into their segregated account.

“This consolidated solution streamlines the entire collateral workflow for clients at a time when the buy-side is facing major new margin requirements on bilateral derivatives trades,” said Jonathan Spirgel, head of Liquidity and Segregation Services at BNY Mellon, in a statement. “Adding the ability to instruct collateral movements with AcadiaSoft enables clients to take full advantage of our wide range of collateral service offerings in a fully integrated environment.”

AcadiaSoft acts as a central repository for calculating IM, enabling market participants to leverage the AcadiaPlus platform – an “open” application providing messaging, data, workflow standards and connectivity to third-party partners for the global collateral industry – as a single point of contact. BNY Mellon provides comprehensive collateral management for clients, including a range of segregation options, collateral administration, collateral transformation and other services.

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