Pershing adds link to securities lending programme
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Pershing adds link to securities lending programme 06 November 2013Jersey City Reporter: Mark Dugdale
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BNY Mellon company Pershing has created a 鈥渟eamless鈥� link between its PrimeConnect application and its Fully Paid 网爆吃瓜 Lending programme.
The new connection to Pershing鈥檚 Fully Paid 网爆吃瓜 Lending programme allows hedge funds, through a fully automated solution, to transfer fully paid securities from BNY Mellon to Pershing.
Pershing will in turn be able to borrow those shares, while hedge fund managers will be able to see the earning potential of fully paid assets in the prime services dashboard on NetX360, Pershing鈥檚 technology platform.
Brian Ruane, CEO of broker-dealer services at BNY Mellon, said: 鈥淧ershing鈥檚 PrimeConnect is just one example of how BNY Mellon is leading the way in helping clients to source and optimise collateral, enhance the velocity and mobility of that collateral, and to address their wider requirements around liquidity, financing and reporting.鈥�
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