BNY Mellon live with cleared securities lending for clients
June 18, 2019

Eurex Clearing has reported today that BNY Mellon has become the first agent lender to centrally clear a securities lending transaction on behalf of a buy-side client through the Eurex Clearing Lending CCP platform.

It says the trade, which was executed by BNY Mellon on behalf of an insurance company client, originally faced Morgan Stanley as counterparty, and ultimately cleared with Eurex Clearing, a central counterparty (CCP). The trade was matched and novated through Pirum's CCP Gateway.

Eurex Clearing says this transaction represents a major new route to market for BNY Mellon's securities lending clients who will now have the ability to capitalize on growing market demand to undertake securities finance within a centrally cleared environment, but without the obligations and responsibilities of traditional clearing house membership.

Says James Slater, Global Head of Securities Finance, Liquidity & Segregation, at BNY Mellon: "This trade marks a watershed in the development of the securities lending market. Central clearing will add capacity to the market and provide new opportunities for our clients. Those clients who choose to participate in this new distribution channel should see increased utilization and better pricing, all while facing a highly-rated clearing house as counterparty."





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Eurex Clearing has reported today that BNY Mellon has become the first agent lender to centrally clear a securities lending transaction on behalf of a buy-side client through the Eurex Clearing Lending CCP platform.

It says the trade, which was executed by BNY Mellon on behalf of an insurance company client, originally faced Morgan Stanley as counterparty, and ultimately cleared with Eurex Clearing, a central counterparty (CCP). The trade was matched and novated through Pirum's CCP Gateway.

Eurex Clearing says this transaction represents a major new route to market for BNY Mellon's securities lending clients who will now have the ability to capitalize on growing market demand to undertake securities finance within a centrally cleared environment, but without the obligations and responsibilities of traditional clearing house membership.

Says James Slater, Global Head of Securities Finance, Liquidity & Segregation, at BNY Mellon: "This trade marks a watershed in the development of the securities lending market. Central clearing will add capacity to the market and provide new opportunities for our clients. Those clients who choose to participate in this new distribution channel should see increased utilization and better pricing, all while facing a highly-rated clearing house as counterparty."



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