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EquiLend, BNY Mellon automate RQV process
09 May 2012
EquiLend announces partnership with BNY Mellon to automate end-to-end tri-party collateral management solution
BNY Mellon has joined forces with EquiLend to automate tri-party required value (RQV) communication.
Tri-party RQV figures are currently communicated via email but will now be migrated to a formalised process using BNY Mellon’s tri-party automated deal matching (ADM) platform.
According to EquiLend, the enhancement will allow EquiLend and BondLend users to expand post-trade efficiencies in securities lending trades and to reduce operational risk by automating the service.
“We are looking forward to a long and fruitful relationship with BNY Mellon’s tri-party collateral management business, particularly the opportunities and solutions that this partnership will create for the market,” said Brian Lamb, CEO of EquiLend.
EquiLend will make the enhancement by leveraging the company’s automated securities finance platform. Existing clients of EquiLend and BNY Mellon will be able to have access to this service by the end of 2012.