BNY Mellon

News and Notes, News and Notes – Fintech

BNY Mellon, Trading Apps

On November 29th, BNY Mellon purchased the agency securities finance software and associated intellectual property of Trading Apps, the UK-based provider of market-leading front-end software. The transaction will deliver substantial…

BNY Mellon first tri-party collateral provider for China mainland-Hong Kong trading link

June 6, 2018

BNY Mellon, Stock Connect, tri-party

BNY Mellon is the first tri-party agent to provide collateral services for securities settled through Hong Kong Stock Connect, supporting growing cross-border trade volumes into and out of China. The bespoke…

FISL London 2018: reputational risk and liquidity hurdles to buy-side adoption of emerging market infrastructures

May 9, 2018

FISL, Securities Lending

Aberdeen Standard Investments, All to All, blockchain, BNY Mellon, DBVX, DTCC, Euroclear, peer to peer, topstory

If there are mavericks in the emerging landscape of securities lending, surely it’s the matching platforms and blockchain that are making some waves, with one of the major reasons being…

BNY Mellon research finds prime funds have superior yields and consistent stability

April 27, 2018

BNY Mellon, prime funds

Prime funds can sometimes be overlooked by investors in favor of government and treasury funds. A new piece of analysis based on data from BNY Mellon’s Liquidity DIRECT reveals that…

BNY Mellon report shows central banks diversifying in search for yield

February 7, 2018

BNY Mellon, Central Banks

Central banks undertake ‘gradual but definite expansion’ of investment activities that look beyond their traditional boundaries, says a report by BNY Mellon in collaboration with Cambridge Judge Business School. As…

BNY Mellon works with Volante for real-time payment tech

January 30, 2018

News and Notes – Fintech

BNY Mellon, Payments, settlement, Volante Technologies

Volante Technologies announced that it’s been collaborating with BNY Mellon on creating and deploying technology to enable real-time payments in the US and internationally. As part of BNY Mellon’s payments…

How did US and European repo markets fare at the end of 2017? (Premium)

January 3, 2018

ECB, Europe, Repo, Tri-Party Repo, US

BNY Mellon, DTCC, ECB, Federal Reserve, GCF, Repo, RepoFundsRate, Reverse Repo Facility, topstory

US and European repo markets got a bit tetchy last week as the year closed but not as bad as 2016. We review the data and offer some observations. Continue…

FRB announces final plans for three new repo reference rates

December 10, 2017

alternatives to LIBOR, BGCR, BNY Mellon, DTCC, Federal Reserve Bank of New York, Federal Reserve Board of Governors, SOFR, TGCR

The Federal Reserve Board announced final plans for the production of three new reference rates based on overnight repurchase agreement (repo) transactions secured by Treasury securities. The three reference rates…

How many tri-party agents should there be? (Premium)

October 9, 2017

Europe, Repo, Tri-Party Repo, US

BNP Paribas, BNY Mellon, JP Morgan, topstory, tri-party

The announcement last week that BNP Paribas has entered the European tri-party market begs the question: is a fifth (or eighth, by some counts) tri-party agent necessary? This question can…

Pirum and IHS Markit in SFTR tie-up with six firms

October 2, 2017

BNY Mellon, Brown Brothers Harriman, Deutsche Bank, eSecLending, IHS Markit, J.P. Morgan, Pirum, Rabobank, regtech, SFTR

IHS Markit is partnering with six leading securities finance market participants as part of its ongoing effort with Pirum Systems to build a solution to address Securities Finance Transaction Regulation…

BNY Mellon and Hazeltree to simplify buy-side cash management

October 1, 2017

BNY Mellon, collateral optimization, HazelTree, treasury management

BNY Mellon and Hazeltree, a provider of treasury solutions, have joined forces to deliver an independent platform that streamlines cash management for buy-side and corporate firms. The initiative delivers BNY…

Bloomberg: repo traders on edge from BNYM’s “monopoly”

September 18, 2017

Come mid-2018, the Bank of New York Mellon will be solely responsible for ensuring almost $2 trillion of securities financed by repurchase agreements are cleared and settled each and every day. With…

WSJ article stokes fears of one US tri-party repo clearer: did they get the story right?

September 5, 2017

Repo, Risk Management, Systemic Risk, Tri-Party Repo, US

BNY Mellon, BNYM, fire sales, Repo, topstory, tri-party, WSJ

The headline of a Wall Street Journal article from Wednesday, August 30 2017 seemed to sound an alarm: “New Worry in ‘Repo’: Just One Bank for $3.5 Trillion Market.” While…

Risk: Goldman and Federated first to clear MMF repo trades

August 31, 2017

BNY Mellon, DTCC, Federated Investors, FICC, Goldman Sachs, money market funds, Repo

Goldman Sachs Asset Management and Federated Investors have become the first money market fund managers to clear their US Treasury repo trades at the Fixed Income Clearing Corporation, a subsidiary of the Depository…

Are the buy side and sell side on the same page about the direction of prime brokerage?

July 3, 2017

Richard Stinchfield

Hedge Funds, Investments, Liquidity Management, Prime Brokerage, US

BNY Mellon, buy-side, Finadium, financing, hedge funds, Liquidity, Prime Brokerage, topstory

BNY Mellon released the results of a buy-side survey on liquidity and financing on June 26th. How closely do the concerns and attitudes of investors towards their liquidity and financing…

BNY Mellon Research Finds Collateral Pressures Impacting Most Buy-Side Institutions

June 26, 2017

BNY Mellon, collateral, Liquidity, PwC

The global buy-side community finds itself under intense liquidity and funding pressures in 2017. Across the world, financial institutions face new mandates to collateralize OTC derivatives trades, requiring them to…

BNY Mellon creates new subsidiary for government clearance and tri-party repo

May 31, 2017

BNY Mellon, tri-party

NEW YORK, May 31, 2017 /PRNewswire/ — The Bank of New York Mellon Corporation (“BNY Mellon”) (NYSE: BK) has formed a wholly-owned subsidiary, BNY Mellon Government Securities Services Corp., designed to further enhance capabilities,…

BNY Mellon says that Sovereign Wealth Funds set to benefit in seclending and repo

November 15, 2016

BNY Mellon, sovereign wealth funds

Sovereign wealth funds (SWFs), and in many instances asset owners, are well positioned to bene t in the securities lending and repo markets as banks and buy-side market participants increasingly…

Spreads of 76 bps in repo indices show challenge of best execution in US repo markets (Premium)

November 3, 2016

Central Counterparties, Investments, Money Market Funds, Repo, RRP, Tri-Party Repo

BNY Mellon, GCF Repo, Repo, topstory, tri-party

We’ve completed an analysis on the last three months of data from DTCC’s GCF Repo(R) index and BNY Mellon’s tri-party repo index, focusing on US Treasuries. The spread on these…

BNYM: Sovereign Institutions See Securities Lending as Opportunity to Boost Returns

October 12, 2016

BNY Mellon, Securities Lending, sovereign wealth funds

LONDON and NEW YORK, Oct. 11, 2016 /PRNewswire/ — Sovereign institutions are considering expanding their commitment to securities lending to increase returns and to help alleviate what they perceive as a threat to liquidity…

Finadium and six leading financial institutions announce new Securities Lending conferences for 2017

August 1, 2016

Collateral Management, Europe, Repo, Securities Lending, US

BNY Mellon, Brown Brothers, Citi, collateral management, conferences, eSecLending, Finadium, JP Morgan, Repo, Securities Lending, State Street, topstory

BNY Mellon, Brown Brothers Harriman, Citi, eSecLending, J.P. Morgan and State Street, along with Finadium, the specialist consultancy in securities finance and asset servicing, announce two new securities lending conferences…

JP Morgan exits GCF Repo® clearing – what does this actually mean?

July 25, 2016

Credit Exposure, Primary Dealers, Repo, Tri-Party Repo, US

BNY Mellon, DTCC, Federal Reserve, GCF Repo(R), JP Morgan, topstory

The news came out last week that JP Morgan would be exiting GCF Repo® clearing. Actually, several media organizations reported that JPM was to stop settling government securities, which isn’t…

If BNYM hits it big with DBV-X, where does that leave GCF(R) Repo? (Premium)

June 20, 2016

CCP, Repo, Technology, Tri-Party Repo

BNY Mellon, DBV-X, DTCC, GCF, Repo, standardized baskets, topstory, tri-party

With all the changes currently going on in the market, if BNY Mellon’s recent purchase of DBV-X goes through and is a success, will that impact the DTCC’s GCF(R) Repo…

Webinar replay: Trends in Non-cash Collateral

June 15, 2016

Collateral Management

BNY Mellon, Calypso, collateral, non-cash, Societe Generale, topstory

Click here to view the replay of Trends in Non-cash Collateral, our June 15 2016 webinar, sponsored by BNY Mellon and Calypso Technology.

BNYM working on blockchain for securities lending with IBM

May 3, 2016

blockchain, BNY Mellon, IBM, securtiies lending

ARMONK, N.Y. – 29 Apr 2016: Since blockchain is an emerging technology, until now there has been little clarity on the requirements to securely operate blockchain networks in the cloud.…

US agencies reject seven banks on living wills – what actually happened with BNYM and State Street? (Premium)

April 19, 2016

Dodd-Frank, Regulatory, Systemic Risk, US

BNY Mellon, Dodd-Frank, FDIC, Federal Reserve, Living Wills, State Street, topstory

The Federal Reserve and FDIC announced last week that they had rejected the living wills of seven major US banks (five of them were rejected by both regulators and two…

BNY Mellon enhances collateral management service with Japanese debt expertise

April 5, 2016

BNY Mellon has introduced an innovative and distinctively Japanese-flavored cross border solution that significantly enhances the company’s service to collateral management clients. Leveraging in support of collateral management clients the…

BNY Mellon: Collateral Management: Navigating the Regulatory Maze

March 9, 2016

BNY Mellon, collateral management

As a result of the 2008 financial crisis and resulting suite of regulatory changes, the market has been driven to recognise the significance of collateral and its value in trading…

BNYM/PwC: The Future of Wholesale Funding Markets

December 10, 2015

US tri-party reform is just the first step in the evolution of wholesale funding markets, according to new joint BNY Mellon-PwC study LONDON, NEW YORK, December 10, 2015 – Market…

Inter-clearer FICC tri-party trading at DTCC will come to an end in July, 2016. Did the Fed just get impatient?

November 11, 2015

Jonathan Cooper

CCP, Central Counterparties, Collateral Management, Credit Exposure, Featured, Federal Reserve, Regulatory, Repo, Systemic Risk, Tri-Party Repo

BNY Mellon, FICC, JP Morgan, Repo, topstory, tri-party repo

Last week DTCC made an announcement they would, as of July 15, 2016, no longer support FICC trades that go across clearing banks. The text of the announcement can be…

BNY Mellon Launches New U.S. Government Securities Clearing Platform

October 14, 2015

NEW YORK, Oct. 13, 2015 /PRNewswire/ — BNY Mellon, a global leader in investment management and investment services, has launched a new US government securities clearance platform that provides clients…

BNY Mellon, State Street and Natixis join Eurex’s Securities Lending CCP

January 29, 2015

BNY Mellon, Eurex Clearing, Natixis, State Street

BNY Mellon and State Street: Eurex Clearing, Europe’s leading clearing house and part of Deutsche Börse Group, today announced a collaboration with BNY Mellon and State Street, two of the…

BNY Mellon and CME set to introduce tri-party indices and futures. Is this the right time?

November 25, 2014

Jonathan Cooper

Featured, Primary Dealers, Repo, Repo Futures, Short Term Interest Rate Benchmarks, Tri-Party Repo

BNY Mellon, CME, DTCC, GCF Repo, ICE, topstory

Bank of New York Mellon and the CME have announced a collaboration to produce indices based on tri-party repo and futures contracts on those indices. This was long expected but…

BNY Mellon Establishes Innovation Center in Silicon Valley

November 19, 2014

NEW YORK and PALO ALTO, Calif., Nov. 17, 2014 /PRNewswire/ — BNY Mellon, a global leader in investment management and investment services, announced that it has established an innovation center…

BNY Mellon/Insurance Risk survey shows insurers uncertain they have enough HQLA

November 5, 2014

BNY Mellon, Insurance Risk

Insurance Risk’s third collateral management survey in conjunction with BNY Mellon reveals how insurers are grappling with the challenge of central clearing for over-the-counter derivatives. Brought into effect by parts…

More innovative products and ideas in securities finance

It is no secret that regulatory change brings out innovation (necessity and all that). Lately we’ve been seeing more proof of this in the securities finance space. Besides product launches…

BNY Mellon launches MyOnCore to enhance oversight and transparency for investment manager outsourcing arrangements

June 19, 2014

New intuitive dashboard solution offers near to real-time visibility to improve efficiency and reduce risk Jun 18, 2014 NEW YORK and LONDON, June 18, 2014 /PRNewswire/ — BNY Mellon, a…

Who Should Trade Single Treasury Futures?

April 28, 2014

CCP, Collateral Management, Derivatives, Featured, Repo, Single Treasury Futures, US

Basel III, BNY Mellon, futures, NASDAQ OMX, Repo, Single Treasury Futures

In an earlier post we introduced Single Treasury Futures (STFs) as well as the Exchange Future for Physical (EFP) market that will support basis trading. This article looks at who…

BNY Mellon Automates Calculation of Collateral Requirements in ETF Marketplace

March 31, 2014

NEW YORK, March 27, 2014 /PRNewswire/ — BNY Mellon, a global leader in investment management and investment services, has automated the calculation of collateral requirements in the exchange-traded funds (ETF)…

BAML uses BNYM's IEF4 program to post corporates on CME Clearing

March 12, 2014

BAML, BNY Mellon, CME Clearing

BNY Mellon, a global leader in investment management and investment services, has implemented an enhanced collateral management program for BofA Merrill Lynch that expands collateral eligibility and creates greater collateral…

Introducing Single Treasury Futures

March 5, 2014

CCP, Collateral Management, Derivatives, Featured, Repo, Single Treasury Futures, US

BNY Mellon, NASDAQ OMX, Repo, Single Stock Futures, Single Treasury Futures, SSF, STF

Today we introduce readers to a new product – Single Treasury Futures (STFs) – developed by BNY Mellon and NASDAQ OMX. STFs are a secured funding product that will trade…

BNY Mellon CSD approved by the Luxembourg Stock Exchange as a recognized securities settlement system

March 4, 2014

LONDON, March 4, 2014 /PRNewswire/ — BNY Mellon, a global leader in investment management and investment services, has confirmed that its Brussels-based central securities depository, BNY Mellon CSD SA/NV, has…

DTCC throws hat more fully into the collateral management ring. What happens now? (Finadium subscribers only)

January 27, 2014

Collateral Management, Europe, Featured, US

BNY Mellon, Clearstream, collateral highway, collateral management, DTCC, Euroclear, J.P. Morgan, Margin Transit Utility

DTCC has made clear its intention to participate in the collateral management business, first with the announcement of the Margin Transit Utility and a partnership with Euroclear, then the 100%…

BNY Mellon and Bloomberg link for collateral management processing

December 5, 2013

Bloomberg, BNY Mellon

NEW YORK and LONDON, Dec. 4, 2013 /PRNewswire/ — BNY Mellon, the global leader in investment management and investment services, is enhancing its AccessEdge portal via a new link with…

Updating our data on Prime Custody eligible assets (Finadium subscribers only)

December 5, 2013

Custodians, Hedge Funds, Prime Brokerage

BNY Mellon, Finadium, hedge funds, Prime Custody