EquiLend, a trading and operations services provider, has partnered with BNY Mellon on a new service, Tri-Party Connectivity, which allows collateral providers and receivers to match required value (RQV) figures in just one place.
EquiLend clients can send the values for all of their counterparties, and once the pre-matching of trades is complete, EquiLend sends the information in real time to BNY Mellon. After BNY Mellon replies with confirmation of receipt, EquiLend posts status updates on the EquiLend User Interface.
In a case where only one party is an EquiLend client and a counterparty submits values first, BNY Mellon sends the information to EquiLend to display to the user.
“Having conducted an extensive build and beta phase with BNY Mellon and our clients, we are confident that EquiLend’s offering to communicate and process RQV figures is best in class. We look forward to continuing our work with BNY Mellon for the benefit of the market,” said Brian Lamb, CEO of EquiLend.
EquiLend and BNY Mellon Develop Platform to Match RQV Figures
EquiLend, a trading and operations services provider, has partnered with BNY Mellon on a new service, Tri-Party Connectivity, which allows collateral providers and receivers to match required value (RQV) figures in just one place.
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