This Day On The Street
Continue to site
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

BNY Mellon Selected By NASDAQ OMX As Settlement Bank For CCP Clearing

LONDON, Sept. 10, 2013 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment services, has been selected by NASDAQ OMX as one of its settlement banks for its central counterparty (CCP) clearing service in Europe.

BNY Mellon will serve the needs of both the CCP and the buy-side clients, and support NASDAQ OMX's settlements in US dollars, euros and sterling. As a result of new legislation including Dodd-Frank in the US and the European Market Infrastructure Regulation (EMIR) in Europe, many derivatives, credit default swaps and interest rate swaps will migrate from trading over-the-counter (OTC) to through CCPs. BNY Mellon is working with clients and CCPs to ensure the efficient and timely processing of margin for these trades.

"We chose BNY Mellon because of its financial strength and reputation for reliable customer service and attention to detail", said Johan Ruden, newly appointed President of NASDAQ OMX Clearing AB. "BNY Mellon is a strong addition to our group of settlement banks which are providing clearing services on our European stock exchanges. This is central to our strategy of building a competitive model which will increase liquidity and lower costs for investors."

Dominic Broom, Head of EMEA Sales and Relationship Management, Treasury Services at BNY Mellon said: "The move to CCPs is a radical shift in the way the industry does business and we are at the forefront of this key regulatory change. In addition to providing settlement services for CCPs, we are also helping clients optimise and administer their collateral as part of the support we can offer them across the whole breadth of the investment lifecycle."

NASDAQ OMX will implement its CCP clearing service with BNY Mellon in December of this year.

Notes to editors:

With locations on six continents and an extensive global network of correspondent financial institutions, BNY Mellon's Treasury Services group delivers high-quality performance in global payments, trade services and cash management. It helps clients optimize cash flow, manage liquidity and make payments more efficiently around the world in more than 100 countries. The company is a top-five participant in both the CHIPS and overall funds transfer markets, and is a recognized leader in the delivery of private-label treasury services solutions for banks and other large institutional clients.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs