The securities services subsidiary of BNY Mellon says it has added a seamless link to the fully-paid securities lending program, among other upgrades, to its PrimeConnect application.
The new connection will allow hedge fund clients to transfer securities directly from BNY Mellon to Pershing, where they can be made available to be borrowed by Pershing, as well as see the earning potential of fully-paid assets on its NetX360 prime services platform.
Those enhancements will come on top of real-time connectivity to Pershing's margin systems, which allows for calculation of specific securities' price movements before fund managers commit to action, optimizing collateral deployment. The same functions will be applied to PrimeConnect40, its sister platform for funds registered under the 1940 Act using tri-party structures to support alternative strategies.
“Pershing’s PrimeConnect is just one example of how BNY Mellon is leading the way in helping clients to source and optimize collateral, enhance the velocity and mobility of that collateral, and to address their wider requirements around liquidity, financing and reporting," says Brian Ruane, CEO of Broker-Dealer Services at BNY Mellon.
While at Sibos Toronto, James shares some interviews covering topics on blockchain, fintechs and cybersecurity.Subscribe to Weekly Wrap emails