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.