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BNY Mellon enhances collateral mgmt platform
02 May 2012
BNY Mellon has enhanced its collateral management platform with an electronic margin call service
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collateral management
BNY Mellon is enhancing its collateral management platform for institutional clients with the introduction of an online central messaging service that will enable market participants to transmit margin calls, substitution instructions and interest statements electronically.
BNY Mellon has partnered with AcadiaSoft to connect with its electronic margin call system called MarginSphere.
The new service will allow market participants to communicate critical information on exposures and commitments in a real-time and secure manner and provides the ability to produce detailed audit trails of transactions. As a result, it will reduce inefficiencies and operational risk, as well as increase transparency.
"As one of the world's leading providers of collateral management services, we recognize the need to help streamline the margin process in a way that is compliant with emerging risk management infrastructures," said James Malgieri, head of global collateral management and securities clearance at BNY Mellon. "The new service automates collateral communications with counterparties and provides secure electronic management of margin calls, substitutions, and interest statement processing."
The service will also help clients facing a wave of increasingly complex regulatory and compliance requirements as a result of the Dodd-Frank, EMIR and other legislative initiatives around the world.
BNY Mellon services more than $1.8trn in tri-party balances worldwide.