BNY Mellon, the global leader in investment management and investment services, has upgraded its AccessEdge collateral management portal via a newly-established link to Pirum's tri-party automation service to enhance clients' ability to manage collateral.
The benefits of the new link include improved intraday visibility of proposed trades, simpler and timelier trade resolution management, and a single unified process for the agreement and communication of trades.
Staffan Ahlner, Managing Director, Global Collateral Services at BNY Mellon, said: "In today's environment we need to take a comprehensive view on all aspects of a financial transaction. Post trade risks and operational risks are important factors when processing trades. Complexity is often added with the need to segregate collateral at a final beneficial ownership level on a timely basis. BNY Mellon is focusing on improving the market efficiencies in this processing cycle. The new link is a step in the overall plan to enhance the connectivity of BNY Mellon's tri-party system to lenders and borrowers."
BNY Mellon's AccessEdge portal connects dealers with investors, enabling real-time collateral transfers in a secure and efficient environment with respect to repo, securities lending, over-the-counter (OTC), central counterparty (CCP) and other collateralised transactions.
AccessEdge is BNY Mellon's collateral management portal into RepoEdge, its collateral management platform, that enables dealers and investors to view tri-party transactions on-line and in real-time.