BNY Mellon Asset Servicing partners ValueLink on OTC pricing

This service compliments the comprehensive validated pricing services that have been provided for many years to both London and Dublin operations within BNY Mellon Asset Servicing.

Matthew Cox, BNY Mellon Asset Servicing Head of Securities Data Management Europe commented "OTC valuation is increasingly important. ValueLink has demonstrated its reliability and high service levels for many years as a key supplier of data services to BNY Mellon Asset Servicing. We were confident we could rely on them to deliver this important extension in the area of OTC counterparty collection and reconciliation reporting. The service provided, and their flexibility to offer further enhancement, will significantly support the development of our OTC valuation process."

Trevor Beach, Operations Director at ValueLink confirmed "We are very pleased that such an important administrator has entrusted ValueLink with this key service. This represents a hugely significant extension to our services to BNY Mellon Asset Servicing. Extensive testing has confirmed that our bespoke service provides solutions in a challenging and complex environment. This is a growing area within the back office and I believe we are well positioned to continue to expand both our service offering and number of clients utilising this over the next months."

The ValueLink OTC counterparty collection service involves the receipt of security data from the trading brokers used by BNY Mellon. Each broker will send asset trade and price information to ValueLink in a host of varied and ever changing formats. ValueLink are responsible for the automated data extraction from the different broker statements. This data is then uploaded and validated within ValueLink's database. A comprehensive suite of reporting enables ValueLink and BNY Mellon Asset Servicing to complete additional reconciliation and resolve any missing or potentially erroneous data.

Nigel Winter, Product Development Manager at ValueLink, who has responsibility for this project within ValueLink confirmed that "This service takes us further into the depths of counterparty data extraction and data reconciliation. During the last year we have established a strong product for anyone requiring counterparty pricing and during this time we have also established positive relationships with the numerous brokers that forward the relevant data. The relationship with the brokers is a key component of our service".

It is important to have the flexibility to continually improve the service. Nigel Winter explained "From our previous experience I expect us to work together with BNY Mellon Asset Servicing to further refine and improve our service. This will be an ongoing process as the OTC market evolves. ValueLink has committed specific resources to ensure that our service has the flexibility precisely to meet clients' growing requirements."