Bank of New York Mellon launches Liquidity Direct

Bank of New York Mellon launches Liquidity Direct

The Bank of New York Mellon has launched a money market investment portal designed to help institutional investors maximise liquidity and mitigate counterparty risk.

Liquidity Direct unites the institutional liquidity platforms of the Bank of New York, MoneyFunds Direct, and Mellon Financial Markets, Liquidity Management Services. The Bank of New York Company and Mellon Financial merged in July 2007.

The bank says the combined portal enables institutions to access a wide range of money market funds, invest directly in individual money market securities and safekeep margin balances.

The system is designed to improve investment transparency and allow for straight-through-processing, providing clients with quick access to their cash, and customised account monitoring.

Transactions conducted through Liquidity Direct are posted in real time, multiple holdings are included in a single report, and data is archived for extended periods.

The portal is managed by the Liquidity Services Group and is being offered to clients from across the bank's business lines, including treasury services, asset management, issuer services and asset servicing.

Jonathan Spirgel, MD and global head of liquidity services, Bank of New York Mellon, says: "Institutional investors need access to resources that measure up to prevailing market conditions, and Liquidity Direct can serve as a single, complete solution for money market investments, margin positioning and account data."

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