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BNY Mellon upgrades collateral management tool

First Published 4th December 2013

New Bloomberg link facilitates pre-matching and reconciliation of trades.

BNY Mellon is enhancing its AccessEdge portal via a new link with Bloomberg to help clients optimise their collateral management.

The firm's AccessEdge portal connects dealers with investors, enabling real-time collateral transfers for repurchase agreements (repos), securities lending, over-the-counter (OTC), central counterparty (CCP) and other collateralised transactions.

The new connection allows collateral receivers and providers to instruct collateral trades from the Bloomberg Professional service. By leveraging Bloomberg's straight-through processing (STP) services, AccessEdge enables clients to consolidate multiple deal confirmations into a single group instruction to facilitate greater post-trade efficiencies. The link will only be available to BNY Mellon's clients outside the US.

Staffan Ahlner, managing director, Global Collateral Services at BNY Mellon, says: "The big attraction of this connectivity for our clients is to reduce post trade risks and improve the post trade efficiency. It will help them grow their business more efficiently in all securities finance markets, while minimising their investment in back-office infrastructure and technology. We will continue to invest in technology and infrastructure to offer our clients secure and innovative ways of managing the growing collateral universe."

Clients can now submit Automated Deal Matching (ADM) instructions for either, all or some of their trades on AccessEdge. ADM allows participants to input, monitor and view trade matching statuses on both a real-time and online basis. Based on the desired parameters, a deal can either be matched, unmatched or mismatched.

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