Expansion now offers comprehensive access to
deposits, enhanced Focused Investing options and mutual funds, as
well as new integration capabilities through SAP
NEW
YORK, May 22, 2023 /PRNewswire/ -- BNY Mellon
(NYSE: BK) today announced the expansion of its short-term
investment platform, LiquidityDirect, to incorporate access to
mutual funds, enhanced Focused Investing options, interest-bearing
demand deposit accounts and sponsored cleared repo Sweep
capabilities to help companies maximize liquidity, manage risks and
improve performance. Driven by client demand, these
enhancements provide corporate treasurers and other finance
executives with a comprehensive platform for leveraging more than
100 investment vehicles.
The expansion also unlocks additional value via integration with
SAP's Treasury Management workstation, creating efficiencies
for self-directed cash management, payments and investments. These
developments build on LiquidityDirect's existing platform
integration with several other leading treasury workstations and
cash management systems, including Indus Valley Partners, G
Treasury and Hazeltree.
Adam Vos, CEO of BNY Mellon
Markets & Execution Services, said: "Throughout market
cycles, the global demand for liquidity remains paramount for all
market participants. A critical component to meeting clients' needs
is providing integrated access from a single source to an array of
liquidity solutions. We have built—and now significantly
enhanced—our LiquidityDirect platform to offer clients exactly
these types of innovative solutions, to meet their dynamic
investment and risk criteria as they execute on their liquidity
strategy."
As an important value add, LiquidityDirect provides access to
the BOLD® (Black Opportunity for Learning and
Development) Share Class on Dreyfus Government Cash
Management, offered exclusively through BNY Mellon, so clients can
easily make a direct social impact. Since launching, assets in the
BOLD® Share Class have grown nearly eightfold, now
totaling an estimated $4.8bn as of
May 12, 2023. In addition, 10% of the
BOLD® shares' net revenue1 will be donated to
Howard University's Graduation
Retention Access to Continued Excellence grant annually.
Building on the success of BOLD®, LiquidityDirect has
bolstered its Focused Investing offering by adding new investment
options, including share classes offered through veteran-, women-
and minority-owned broker-dealers, as well as Minority Depository
Institutions. This augments the platform's existing Focused
Investing capabilities powered by its own ESG Data Analytics.
George Maganas, Global Head of
Liquidity Services, BNY Mellon, said: "Our clients have
conveyed a need to streamline management of their short-term
investments – and we listened. Through the expansion of our
LiquidityDirect product suite, we are providing them with a
comprehensive set of short-term investment options through a single
point-of-access. We will continue evolving the platform to enhance
our clients' experience by incorporating the latest market
developments, investment options with seamless integration and data
management they demand."
About BNY Mellon
Established in 1784, BNY Mellon is America's oldest bank and
the first company listed on the New York Stock Exchange (NYSE: BK).
Today, BNY Mellon powers capital markets around the world through
comprehensive solutions that help clients manage and service their
financial assets throughout the investment life cycle. BNY Mellon
had $46.6 trillion in assets under
custody and/or administration and $1.9
trillion in assets under management as of March 31, 2023. BNY Mellon has been named among
Fortune's World's Most Admired Companies and Fast Company's Best
Workplaces for Innovators. BNY Mellon is the corporate brand of The
Bank of New York Mellon Corporation. Additional information is
available on www.bnymellon.com. Follow us on LinkedIn or visit our
Newsroom for the latest company news.
About SAP
SAP and other SAP products and services mentioned herein as well
as their respective logos are trademarks or registered trademarks
of SAP SE in Germany and other
countries. Please see https://www.sap.com/copyright for additional
trademark information and notices. All other product and service
names mentioned are the trademarks of their respective
companies.
Disclosures on Dreyfus Government Cash Management
This material has been distributed for informational purposes
only and should not be considered as investment advice or a
recommendation of any particular investment, strategy, investment
manager or account arrangement, and should not serve as a primary
basis for investment decisions. Dreyfus is a division of BNY
Mellon Investment Adviser, Inc. Securities are offered by BNY
Mellon Securities Corporation, a registered broker dealer. BNY
Mellon Investment Adviser, Inc. and BNY Mellon Securities
Corporation are subsidiaries of BNY Mellon.
Media Contact:
BNY Mellon
Ryan Wells
ryanw@bnymellon.com
1 "Net revenue" represents the management fee paid by
the Fund to the Fund's investment adviser, BNY Mellon Investment
Adviser, Inc. (BNYM Investment Adviser) after any fee waivers
and/or expense reimbursements by BNYM Investment Adviser and less
any revenue sharing payments made by BNYM Investment Adviser or its
affiliates, with respect to the Fund's BOLD® shares. If in any year
10% of net revenue attributable to the Fund's BOLD® shares is less
than $300,000, BNYM Investment
Adviser nevertheless will make a donation of $300,000 from its past profits.
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SOURCE BNY Mellon