EquiLend and BNY Mellon are collaborating to automate tri-party required value (RQV) communication utilizing BNY Mellons Tri-Party ADM (Automated Deal Matching) platform and leveraging EquiLends securities finance platform.
The collaboration will move RQV communication from email to a more formalized process. The firms say this will increase post-trade efficiencies in securities lending trades and reduce operational risk.
The service will be offered to clients of both EquiLend and BNY Mellon by the end of this year.
“We are looking forward to a long and fruitful relationship with BNY Mellon’s tri-party collateral management business, particularly the opportunities and solutions that this partnership will create for the market, says Brian Lamb, CEO of EquiLend.
James Malgieri, head of Global Collateral Management and Securities Clearance at BNY Mellon, adds: “We are pleased to be partnering with EquiLend to automate an end-to-end collateral management solution for our clients and the market.”
(CG)