Mellon Treasury Services has introduced Liquidity Management Service (LMS), a Web-based investment tool that enables clients to purchase money market funds and securities online.
Jointly offered by Mellon Global Cash Management (GCM) and Mellon Financial Markets (MFM), the bank's full-service broker-dealer, LMS is accessed through iTelecash, Mellon GCM's online information reporting and transaction initiation service. The investment transactions are provided by MFM.
Robert Stasik, executive vice president and head of Mellon GCM, says: "This solution allows Mellon clients to initiate online transactions that address their ever-changing cash flow needs."
In addition to online purchasing and reporting services, LMS offers off-line telephone access to a team of MFM's NASD-registered representatives for market opportunities, commentary and any unique needs.
Stasik says the bank will roll out an improved version of the software in the first quarter next year that will enable customers to obtain extensive performance reports showing positions and related historical performance information.