BNY Mellon has rolled out its middle-office outsourcing service for hedge funds into North America and Asia. The service, which had been largely a European-only offering based out of Dublin, offers real-time trade capture and reporting services.
This middle-office platform provides for profit-and-loss (P&L) reporting, real-time trade processing, reconciliation, over-the-counter (OTC) confirmation and valuation, as well as collateral and cash management. According to the firm, the platform offers a "follow-the-sun" operational model that can support most markets, asset types or currencies.
"The middle office connects real-time trade capture and reporting with other areas where we add value, such as cash and collateral management and risk reporting," says Alan Flanagan, head of global product management for BNY Mellon Alternative Investment Services. "By linking them to a fully integrated platform, we can free up fund managers to focus on their investors and grow their business."