As a central securities depository, BNY Mellon will look to leverage linkages to other CSDs around the world to offer clients the benefits of cross-border interoperability, as well as provide services in local markets as a pan-European institution. Clients will also benefit from the speed inherent in settlement internalisation, if both seller and buyer accounts are maintained within the books of the BNY Mellon CSD.
Said Prior-Willeard: "We already provide key elements of the CSD offering to the market, it is just that historically we have done so on a separate basis. This new entity enhances our role in the post-trade space and facilitates an internalization of the securities value chain, which means our clients will benefit from greater efficiency and reduced risk."
A conference call will be held for media representatives at 2pm UK / 3pm CET/ 9am Eastern on Monday January 7, 2013 during which Nadine Chakar, Executive Vice-President, Global Collateral
Services and Chris Prior-Willeard, CEO of BNY Mellon CSD will provide an overview of the new CSD entity and take questions. Dial-in details are as follows: Belgium + 32 3 400-2809 / 0800 4 8574 Germany + 49 69 2222 7228 / 0800 000 1654 UK +44 20 7108 6248 / 0800 279 3953 USA +1 210-795-1098 / 866-803-2143 Please provide the participant passcode - BNY MELLON 1 - when requested to do so.Notes to editors: BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $27.9 trillion in assets under custody and administration and $1.4 trillion in assets under management, services $11.6 trillion in outstanding debt and processes global payments averaging $1.4 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com or follow us on Twitter @BNYMellon. This press release is issued by The Bank of New York Mellon to members of the financial press and media.All information and figures source BNY Mellon unless otherwise stated as at September 30, 2012.The Bank of New York Mellon, London Branch, registered in England and Wales with FC005522 and BR000818Branch office: One Canada Square, London E14 5ALAuthorised and regulated in the UK by the Financial Services Authority. SOURCE BNY Mellon