This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

BNY Mellon CSD Signs T2S Framework Agreement

LONDON, May 20, 2013 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment services, has signed a Framework Agreement with the Eurosystem to allow it to outsource settlement to the T2S settlement platform, which is set to go live in 2015.

The agreement commits Brussels-based BNY Mellon CSD SA/NV to taking all necessary steps to become a part of the T2S infrastructure and to comply with the T2S governance regime.

BNY Mellon CSD SA/NV will now work with the Eurosystem to implement the required IT infrastructure and connectivity to become a part of T2S. 

Chris Prior-Willeard, CEO of BNY Mellon CSD SA/NV, said: "The creation of our CSD, and our commitment to the T2S project, demonstrates our ambition to support the aims and objectives of the new regulatory environment for financial markets in Europe, which we are confident will offer clear benefits to our clients. In becoming a participant CSD in T2S, we will be able to enhance our clients' experience; reduce risk by offering access to central bank money; and further enhance our ability to support our business activities across Europe."

Tim Keaney, CEO of Investment Services at BNY Mellon, said: "As the leading provider in the Investment Services space globally, it is natural that we should be in the vanguard of our industry in participating in the ongoing evolution of the eurozone marketplace. We are committed to occupying a position at the centre of the emerging European market infrastructure. T2S is a game changer for the industry, fundamentally altering how participants interact with the European market infrastructure.  As a result, it will impact the business model of those participants, including CSDs, sub-custodians, global custodians and multi-direct clearers."

Jean-Michel Godeffroy, Chairman of the T2S Board, said: "We are glad to welcome BNY Mellon CSD into the T2S Community. The fundamental objective of T2S is to contribute to making Europe a better place to invest. T2S is an open system that will allow all CSDs, whether established or newly-created, to find and exploit new business opportunities."

Incorporated in Belgium as a non-bank subsidiary of The Bank of New York Mellon Corporation and regulated by the National Bank of Belgium, BNY Mellon CSD SA/NV will offer issuer, settlement and safekeeping services for the benefit of all market participants across Europe and the wider global marketplace.

Further details on T2S can be found at www.ecb.europa.eu/paym/t2s/about/about/html/index.en.html

BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 36 countries and more than 100 markets. As of March 31, 2013, BNY Mellon had $26.3 trillion in assets under custody and/or administration and $1.4 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. 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 March 31, 2013. The Bank of New York Mellon, London Branch, registered in England and Wales with FC005522 and BR000818. Branch office: One Canada Square, London E14 5AL. Supervised and regulated by the New York State Department of Financial Services and the Federal Reserve. Authorised by the Prudential Regulation Authority. Subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request.

 

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,131.97 +100.83 0.59%
S&P 500 1,998.98 +14.85 0.75%
NASDAQ 4,552.7590 +33.8570 0.75%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs