CIBC Mellon Global Securities Services Company announced that it has engaged JPMorgan Worldwide Securities Services to launch a new service that enables borrowers of securities to pledge sovereign debt holdings as collateral.
Through JPMorgan Worldwide Securities Services’ Tri-Party Service, combined with their market leading technological platform for collateral management, clients of CIBC Mellon’s global securities lending service can provide sovereign debt bonds of various foreign governments as collateral for their global securities lending arrangements.
“We are continually working to develop and deliver products and services that are flexible and can be customized to support our clients’ objectives,” said Robert Chiuch, executive director, head of GSL trading. “Our ability to accept sovereign debt as collateral through JPMorgan Worldwide Securities Services, a well recognized and experienced third party service provider, will offer more collateral flexibility for securities borrowers and facilitate expanded lending of client assets.”