The Bank of New York Mellon has enhanced its collateral management services for broker dealers with the launch of Position Eligibility, a new feature delivered through its web portal AccessEdgeSM.
With increased risk aversion and more complex credit requirements prevalent in the financial markets, finding the right collateral can be a challenging task. Position Eligibility allows broker dealers to pre-screen securities online and to assess whether the securities can be used as collateral in triparty financing or stock lending transactions.
Position Eligibility highlights our commitment to enabling our clients to gain maximum value from their collateral holdings in a secure and controlled manner, said Art Certosimo, senior executive vice president and head of Broker-Dealer and Alternative Investment Services.
The Bank of New York Mellon remains at the forefront of proactively looking at ways to help our broker-dealer, institutional investor and hedge fund clients in this changing market environment.
Other key functions of the Position Eligibility feature include the ability to search accounts based on different criteria, and include securities that arent custodized at The Bank of New York Mellon. Results can be easily downloaded into an Excel/CSV file format for further analysis.
The Bank of New York Mellons Global Collateral Management Services area helps simplify securities collateralization and expedites securities transfers between providers and receivers of collateral. Its services include RepoEdge products, which allow clients to outsource the operational aspects of their collateralized transactions, and Derivatives Margin Management, which helps clients manage credit risks associated with derivatives transactions by enabling them to accept, monitor and re-transfer collateral. These services are delivered to clients through AccessEdgeSM, a real-time, web-based portal.