CIBC Mellon Global Securities Services Company has selected EquiLend to automate its securities lending operations, believing it will be a benefit to its securities borrowers globally.
“EquiLends best in-class solutions will facilitate greater connectivity with our securities borrowers, positioning us to continue to deliver superior returns to Canadian securities lenders. The selection of EquiLends post-trade services also reflects our ongoing commitment to strengthen automation across our business as we aim to mitigateoperational risk and achieve greater processing efficiency for our clients,” says James Slater, senior vice president and head of capital markets, CIBC Mellon.
“We are very pleased to welcome CIBC Mellon to our client roster. This partnership highlights our dedication to providing robust, relevant securities finance solutions to the Canadian marketplace,” adds Brian P. Lamb, CEO, EquiLend.
CIBC Mellon was recently ranked number one in the world for relationship management to securities borrowers in the International Securities Finance (ISF) 2007 Equity Lending Survey. It also ranked third in the world for quality of operations.
CIBC Mellon is 50-50 jointly owned by Canadian Imperial Bank of Commerce and The Bank of New York Mellon Corporation. CIBC Mellon Global Securities Services Company is a provider of financial services for institutions and corporations, providing superior asset servicing, multicurrency accounting, information delivery, securities lending and foreign exchange services in Canada.
CIBC Mellon is part of BNY Mellon Asset Servicing, which has more than $23 trillion in assets under custody and administration.