The bank will integrate the messaging solution from AcadiaSoft into its platform for institutions' collateral management.
Global custodian BNY Mellon announced its collateral management platform offered to institutional clients will now include a central messaging service—connected through AcadiaSoft's MarginSphere margin call system— that will allow clients to electronically send margin calls, substitution instructions and interest statements.
With the move, BNY joins eight other large financial institutions that have chosen MarginSphere since the service's inception.
The service, offered through BNY's Derivatives360 business, will enable market participants to communicate information about exposures and commitments securely and in real-time, as well as produce audit trails—reducing operational risk and increasing transparency as new regulations are coming into force globally, the bank says.
"We recognize the need to help streamline the margin process in a way that is compliant with emerging risk management infrastructures. The new service automates collateral communications with counterparties and provides secure electronic management of margin calls, substitutions, and interest statement processing," says James Malgieri, head of global collateral management and securities clearance at BNY Mellon.
More from Buy Side Technology
Updating your subscription status
Winner's Announced: Buy-Side Technology Awards 2015
The winners of the 9th annual Buy-Side Technology Awards 2015 were announced in London on November 6, recognizing the leading technologies and vendors in their area of expertise, through an auditable and transparent methodology. To view the winners across the 31 categories click here.
02 Dec 2015
07 Dec 2015
18 Feb 2016
05 Apr 2016
24 May 2016
Download whitepaper for FREE Solving issues relating to data quality and timeliness should be the top priority for an industry-led reference data utility,...
Download whitepaper for FREE Public cloud has grown exponentially in recent years in sectors such as telecoms, the media, health industry and insurance,...