BNY Mellon has been appointed by BBVA Asset Management (BBVA) to provide a comprehensive suite of solutions to BBVAs 23 billion global funds range via its Derivatives360 offering.
Through Derivatives360, BBVA adopts a range of tailored middle-office services, including OTC trade affirmation and confirmation, independent (third-party) valuation, lifecycle event management, portfolio reconciliation, collateral management and custody. BNY Mellon says the deal covers BBVA in multiple global locations, enhancing its overall product offering in the alternatives space and providing greater access to local client coverage.
BBVAs decision to choose Derivatives360 for its increasingly sophisticated derivatives servicing needs in Spain and Mexico underlines how we are delivering capabilities from across our whole organization to benefit investors and issuers, says Patrick Tadie, global business head for Derivatives360.
Cesar Valcarcel, managing director and head of Asset Servicing Iberia at BNY Mellon, adds: “We have expanded our successful relationship with BBVA Asset Management into the derivatives space with Derivatives360. We will support them in respect to credit considerations and product complexity, as well as their emerging needs arising from regulation and on-going industry standardization. This approach will ensure BBVA benefits from end-to-end support and transparency, before, during and after a trade.”
(CG)