Pershing Enhances PrimeConnect with Sec Lending Link
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.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on Operations
Waters Wavelength
Waters Wavelength Podcast: Episode 226 (M&A and people)
On this episode of the Wavelength Podcast, Wei-Shen and Tony talk about the importance of communication when it comes to M&A activity within a company.
Subscribe to Weekly Wrap emails
Most read
- The curious case of Larry Fondren and DelphX
- Waters Wrap: Microsoft’s capital markets play (And Algorithmics thoughts)
- Itiviti’s Blueprint for Success—Investing in People and Products
- PanAgora’s CIO & head of sustainable investing explain firm’s ESG framework, best practices
- Bloomberg RHub fee hike reflects cost pressures of regulatory reporting industry