New enhancements to BNY Mellons Margin DIRECT liquidity management product allow users to provide counterparties with electronic notification of critical events, such as notices of exclusive control and termination events.
Clients can also use the new notification capability to upload and send documents as attachments to notifications, whereby both parties can assign sender credentials to specific individuals in their respective organizations, adding an extra layer of security.
“It’s essential to anticipate client needs, and post Dodd-Frank, demand for segregation of collateral and margin services will continue to grow, says Jonathan Spirgel, executive vice president and head of Liquidity Services for BNY Mellon. Our patent pending Margin DIRECT product is an innovative technological solution that builds on our industry leading custodial and liquidity services and makes us uniquely qualified to meet these clients needs head on.
Margin DIRECT combines BNY Mellons custody services and Liquidity DIRECT liquidity management portal into a single solution, providing safekeeping and liquidity management controls for posted margin balances.
(CG)