BNY Mellon has upgraded its AccessEdge collateral management portal via a link to Pirum’s tri-party automation service that will allow BNY Mellon’s buy-side clients to better manage their collateral requirements.
According to BNY Mellon, which currently services $2 trillion in global collateral (including tri-party repo collateral worldwide), the benefits of the new link include improved intra-day visibility of proposed trades, simpler and timelier trade resolution management, and a single, unified process for the agreement and communication of trades.
The firm's AccessEdge portal connects dealers with investors, enabling real-time collateral transfers in a secure environment with respect to repo, securities lending, over-the-counter (OTC), central counterparty (CCP) and other collateralized transactions.
AccessEdge is BNY Mellon's collateral management portal, which feeds into RepoEdge, the firm's collateral management platform, that enables dealers and investors to view tri-party transactions online and in real time.
Pirum Systems, based in London and founded in June 2000, provides a range of services to financial institutions, including a tri-party automation service, which builds on real-time exposure-processing to provide a single application covering the calculation, agreement, and submission of daily required values (RQVs) to tri-party agents across all counterparties; and a central counterparty (CCP) gateway, allowing customers to clear bilaterally agreed stock-lending trades via a CCP.
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