The service, PrimeConnect and PrimeConnect40 will be available through the company’s technology platform for fund managers and investment professionals, Pershing’s NetX360.
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PrimeConnect will seek to provide transparency and control of collateral selection and movements to hedge fund managers using BNY Mellon to hold unencumbered assets.
PrimeConnect40 will also offer transparency and online collateral movement to ’40 Act fund managers using the tri-party structure to support alternative strategies.
"PrimeConnect and PrimeConnect40 not only eliminate the phone calls, faxes and emails, but they provide a clear wndow into the movement and management of collateral. Because these applications provide both a onsolidated view of an overall portfolio and an online and real-time margin calculator, fund managers re able to more efficiently and effectively place collateral," said Gerry Tamburro, managing director at Pershing.
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