The Bank of New York Mellon, the global asset management and securities servicing firm, has upgraded its collateral management services for broker dealers with the launch of Position Eligibility, a new feature delivered through its web portal AccessEdge(SM).
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The company claims that Position Eligibility feature allows broker dealers to pre-screen securities online and to assess whether the securities can be used as collateral in tri-party financing or stock lending transactions. Additionally, it includes the ability to search accounts based on different criteria, and include securities that are not custodized at The Bank of New York Mellon. Moreover, the results can be downloaded into an Excel/CSV file format for analysis.
It adds that Global Collateral Management Services helps its broker dealers to simplify securities collateralization and expedites securities transfers between providers and receivers of collateral. The 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.
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