Providing buy-side clients easier access to the
world's largest collateral manager with BNY Mellon's Triparty
platform
NEW
YORK, March 27, 2024 /PRNewswire/ -- BNY
Mellon (NYSE: BK) and GLMX announced today a new integration
allowing buy-side clients to direct repo trades at point of
execution to BNY Mellon's Triparty platform.
This integration follows growing demand from clients seeking to
expand their BNY Mellon Triparty usage beyond uncleared margin
segregation into repo financing, helping them to capture more
benefits from being on the world's largest collateral platform.
"This integration with GLMX reinforces our
commitment to enhance the user experience for our growing buy-side
client base on Triparty," said Ted Leveroni, Head of Margin
Services, BNY Mellon. "In our 240th year of
business, we are proud to utilize our expertise to form
relationships that provide innovative solutions and capabilities
for our clients."
"Building interoperability with BNY Mellon creates a seamless
workflow from negotiation and execution to settlement for our
global clients," said GLMX CEO Glenn
Havlicek. "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 BNY Mellon, the world's largest
collateral manager with a $5.25
trillion Triparty liquidity pool, into GLMX's $2 trillion network. It also addresses the
increasing market demand for buy-side clients looking for a single
ecosystem to manage both their collateral and liquidity
requirements.
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 $47.8 trillion in assets under
custody and/or administration and $2.0 trillion in assets
under management as of December 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 GLMX
Founded in 2010, GLMX is an independent
financial technology company. Wall Street veterans collaborated
with Silicon Valley technologists to develop GLMX proprietary
technology which provides an intuitive, comprehensive, integrated
global money market trading solution for institutional
participants. The goal of GLMX is to be a leader in technology, to
maximize trade lifecycle efficiency and reporting and to improve
client access to market liquidity. For more information, please
visit https://www.glmx.com/.
Media:
Ryan Wells, BNY
Mellon
ryanw@bnymellon.com
Sal Giglio, GLMX
Sales@GLMX.com
212 854-4569
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SOURCE BNY Mellon