BNY Mellon and GLMX collaborate to connect the buy side
27 March 2024 US
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A collaboration between BNY Mellon and GLMX has created a new integration allowing buy-side clients to direct repo trades at point of execution to the bank’s triparty platform.
This integration connects the New York-based bank’s US$5.25 trillion triparty liquidity pool with the electronic securities financing trading platform’s US$2 trillion network.
It aims to address the increasing market demand for buy-side clients looking for a single ecosystem to manage both their collateral and liquidity requirements.
The firms say the integration was born from a growing demand from clients seeking to expand their BNY Mellon triparty usage from beyond uncleared margin segregation and into repo financing.
Commenting on the collaboration, Ted Leveroni, head of margin services at BNY Mellon, says: “This integration with GLMX re-enforces our commitment to enhance the user experience for our growing buy-side client base on triparty.
“In our 240 years of business, we are proud to utilise our expertise to form relationships that provide innovative solutions and capabilities for our clients.”
GLMX CEO Glenn Havlicek adds: “Building interoperability with BNY Mellon creates a seamless workflow from negotiation and execution to settlement for our global clients.
“This step is consistent with GLMX’s objective of providing a single access point which connects the global money market to deep liquidity pools, regardless of trade structure, settlement type or trading instrument.”
This integration connects the New York-based bank’s US$5.25 trillion triparty liquidity pool with the electronic securities financing trading platform’s US$2 trillion network.
It aims to address the increasing market demand for buy-side clients looking for a single ecosystem to manage both their collateral and liquidity requirements.
The firms say the integration was born from a growing demand from clients seeking to expand their BNY Mellon triparty usage from beyond uncleared margin segregation and into repo financing.
Commenting on the collaboration, Ted Leveroni, head of margin services at BNY Mellon, says: “This integration with GLMX re-enforces our commitment to enhance the user experience for our growing buy-side client base on triparty.
“In our 240 years of business, we are proud to utilise our expertise to form relationships that provide innovative solutions and capabilities for our clients.”
GLMX CEO Glenn Havlicek adds: “Building interoperability with BNY Mellon creates a seamless workflow from negotiation and execution to settlement for our global clients.
“This step is consistent with GLMX’s objective of providing a single access point which connects the global money market to deep liquidity pools, regardless of trade structure, settlement type or trading instrument.”
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