NEW YORK, June 29, 2016 /PRNewswire/ -- BNY Mellon, a
global leader in investment management and investment services,
said its U.S. Investor Solutions Group has launched a real-time
service to deliver net asset values (NAV) and daily dividend
accrual rates for mutual funds.
BNY Mellon provides the data on behalf of its asset manager
clients to intermediaries such as broker-dealers via The Depository
Trust & Clearing Corporation's (DTCC) Mutual Fund Profile
Services (MFPS) by utilizing IBM MQ real time transmission
methodology. The technology conveys information more quickly
than the batch transmission technology it replaced. BNY Mellon is
the first transfer agent to leverage the technology utilized by
DTCC to deliver NAV data.
"Our first-to-market MQ technology delivery service enables
asset managers to accelerate the delivery of key data—such as NAVs
and daily dividend accrual rates—to intermediaries, thereby
increasing their ability to meet critical nightly processing
windows," said Christine Gill, head
of BNY Mellon's Investor Solutions Group. "The value of this
improved turnaround time flows end-to-end to all stakeholders, not
only to intermediaries, but in turn to the clients they serve, and
ultimately to shareholders."
The importance of providing timely data to broker-dealers has
been increasing as these intermediaries have gathered a growing
percentage of mutual fund assets on their platforms, according to
BNY Mellon. BNY Mellon's U.S. Investor Solutions Group comprises
its transfer agency and subaccounting businesses. As of
March 31, 2016, BNY Mellon supported
over $2.6 trillion in assets globally
on its transfer agency platform and over 165 million accounts with
assets of more than $2.6 trillion on
its subaccounting platform and is ranked as the largest third party
provider of subaccounting services and the second largest provider
of transfer agency services (based on accounts) in the U.S., per
the 2016 Mutual Fund Service Guide.
Concluded Gill, "We remain committed to investing in
technological innovations that improve our clients' experience and
underscore our leadership position as the investments company for
the world."
BNY Mellon's Asset Servicing business supports institutional
investors in today's fast-evolving markets, safeguarding assets and
enhancing the management and administration of client investments
through services that process, monitor and measure data from around
the world. We leverage our global footprint and local expertise to
deliver insight and solutions across every stage of the investment
lifecycle.
BNY Mellon is a global investments company dedicated to helping
its clients manage and service their financial assets throughout
the investment lifecycle. Whether providing financial services for
institutions, corporations or individual investors, BNY Mellon
delivers informed investment management and investment services in
35 countries and more than 100 markets. As of March 31, 2016, BNY Mellon had $29.1 trillion in assets under custody and/or
administration, and $1.6 trillion in
assets under management. BNY Mellon is the corporate brand of The
Bank of New York Mellon Corporation (NYSE: BK). Additional
information is available on www.bnymellon.com. Follow us on Twitter
@BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for
the latest company news.
Contact:
Mike Dunn
+1 732 667 2678
mike.g.dunn@bnymellon.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/bny-mellon-launches-real-time-delivery-of-daily-net-asset-values-and-dividend-accrual-rates-for-mutual-funds-300291932.html
SOURCE BNY Mellon