Custodian leans on securities finance expert to launch tri-party services on Collateral+ platform after successful testing and partnerships with FinTechs.
The hire comes as custodians and buy-side firms rush to set up collateral management arrangements before the next phase of the uncleared margin rules.
Clients will now gain direct connectivity to BNY Mellon, Clearstream, Euroclear and JP Morgan, via SWIFT, for sending and receiving collateral instructions.
New head joins from Credit Suisse and brings almost two decades of experience in securities finance, liquidity and financial resource management.
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.
The bank’s initial margin service will enable APAC-based firms to outsource their initial margin models and processes ahead of the incoming UMR rules.