Custodian leans on securities finance expert to launch tri-party services on Collateral+ platform after successful testing and partnerships with FinTechs.
Clients will now gain direct connectivity to BNY Mellon, Clearstream, Euroclear and JP Morgan, via SWIFT, for sending and receiving collateral instructions.
The solution will target certain banks and buy-side firms that will be required to establish tri-party collateral management arrangements for the first time.
Securities finance automation firm announces upgrade to CollateralConnect platform to provide enhanced visibility, workflow and controls.
Development allow collateral providers and receivers to fully automate their RQV processing.
Through the combination of its existing Collateral Cockpit, SIX will provide a fully automated system for collateral management processes.
TriOptima’s triResolve Margin collateral management service can connect clients to the SWIFT custody network for cash transfers and securities settlement.
Interim CEO Todd Gibbons believes the interoperable model will help increase its global market share of the tri-party market.
BNY Mellon will use the ISDA Create platform to enable its buy-side clients to electronically amend and update their initial margin documents.
Euroclear stated the new solution will make tri-party a portable service offering, agnostic of the settlement and custody location.