The Bank of New York Mellon Introduces Derivatives360 Platform
June 22 2009 - 5:36AM
PR Newswire (US)
Service offers end-to-end solution for all derivatives needs
LONDON, June 22 /PRNewswire-FirstCall/ -- The Bank of New York
Mellon, a global leader in securities servicing and asset
management, has introduced Derivatives360, an integrated investment
servicing lifecycle solution to help clients efficiently execute
and manage derivatives transactions. Derivatives360's flexible
modular design allows clients to select some or all of the
components offered by the new platform, allowing them to focus
resources and management time on their core activities. Clients are
today looking to outsource derivative functions historically
handled in-house for a number of reasons, including credit
considerations, product complexity, the high investment costs
associated with specialist systems, a shortage of high-calibre
staff, stronger regulation and the wider industry drive towards
standardisation. Whether clients are using derivatives as a hedging
tool or as a separate investment strategy, Derivatives360 offers a
broad array of services for issuers and investors around the
execution and processing of derivatives. These include: -- Trading
and execution -- Middle- and back-office outsourcing -- Collateral
management -- Accounting and recordkeeping -- Reporting --
Performance and risk analytics Derivatives360 also encompasses the
following outsourced services: -- OTC trade affirmation and
confirmation -- Trade settlement -- Independent (third-party)
valuation -- Counterparty and investment manager reconciliation --
Collateral management -- Lifecycle event management -- Futures
margin management As a derivatives counterparty, The Bank of New
York Mellon is highly rated (Aaa) [as at June 1, 2009] - a
fundamental consideration for anyone who is looking to transact in
today's environment. Operating from three of the world's major
money centres, the company maintains a significant presence in the
interest rate, equity and foreign-exchange derivatives arena,
acting as a global, multi-asset derivatives dealer through to
supporting the entire processing lifecycle to maturity. Tim Keaney,
Chairman of Europe and Head of Global Client Management at The Bank
of New York Mellon and co-CEO of BNY Mellon Asset Servicing, said:
"Derivatives360 leverages The Bank of New York Mellon's existing
expertise, sophistication and experience around derivatives
processing and settlement to provide end-to-end support and
transparency, before, during and after a trade. As such it
reinforces our long-standing commitment to providing our clients
with simple solutions for complex problems." Notes to editors The
Bank of New York Mellon Corporation is a global financial services
company focused on helping clients manage and service their
financial assets, operating in 34 countries and serving more than
100 markets. The company is a leading provider of financial
services for institutions, corporations and high-net-worth
individuals, providing superior asset management and wealth
management, asset servicing, issuer services, clearing services and
treasury services through a worldwide client-focused team. It has
$19.5 trillion in assets under custody and administration, $881
billion in assets under management, services more than $11 trillion
in outstanding debt and processes global payments averaging $1.8
trillion a day. Additional information is available at
http://www.bnymellon.com/ DATASOURCE: The Bank of New York Mellon
Corporation CONTACT: Tim Steele, +44-20-7163-5850, , or Louisa
Bartoszek, +44-20-7163-2826, , both of The Bank of New York Mellon
Corporation Web Site: http://www.bnymellon.com/
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