LONDON, Dec. 16, 2016 /PRNewswire/ -- BNY Mellon has
migrated clients' assets to direct accounts with Monte Titoli using
its connection to TARGET2-Securities (T2S). As a Directly Connected
Participant (DCP) to T2S, BNY Mellon will settle transactions in
listed securities, such as equities and fixed income with Monte
Titoli.
BNY Mellon, a global leader in investment management and
investment services, will also provide clients with portfolio
servicing activities, including corporate actions, income
processing, tax and proxy voting. Previously BNY Mellon settled
transaction in the Italian market through sub-custodian
services.
Monte Titoli is the authorised Central Securities Depositary
(CSD) for centralised administration, settlement and ancillary
services in the Italian market.
"We are delighted that BNY Mellon, one of the world's largest
investment services companies, has become a participant of Monte
Titoli," said Mauro Dognini, Chief Executive of Monte Titoli. "In
doing so, BNY Mellon and its clients will be able to fully benefit
from the implementation of T2S using Monte Titoli for the provision
of settlement, asset and fiscal services, which will help improve
operational efficiency and reduce risk. This achievement represents
a key step in Monte Titoli's strategy to expand its service
offering and client base and confirms its capability to support
international clients."
"Our connection to T2S will help us streamline back-office
operations and reduce risk by offering our clients direct access to
central bank money," said Tom
Casteleyn, Head of Product Management for Custody, Cash and
FX at BNY Mellon. "Our direct accounts with Monte Titoli will
enable us to provide clients with deadlines that are closer to
market cut-offs, whilst improving our asset servicing
capabilities."
BNY Mellon provides services to clients in over 100 markets and
is using its connection to T2S to become direct to all the major
markets in the Eurozone. It is direct in Germany and the
Netherlands, in addition to direct CSD connections already
in existence in other markets such as the Depository Trust &
Clearing Corporation (DTCC) and Fedwire in the U.S. and CREST in
the U.K.
T2S acts as a single securities settlement system for over
twenty European markets. One of its key objectives is to
standardise and harmonise securities settlement across Europe, opening up opportunities for the
consolidation of custody relationships.
BNY Mellon
BNY Mellon's Asset Servicing business
supports institutional investors in today's fast-evolving markets,
safekeeping assets and enhancing the administration of client
investments through services that process, monitor and measure data
from around the world, allowing clients to focus on the management
of their investments. 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 September 30, 2016, BNY Mellon had $30.5 trillion in assets under custody and/or
administration, and $1.72 trillion in
assets under management. BNY Mellon can act as a single point of
contact for clients looking to create, trade, hold, manage,
service, distribute or restructure investments. 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.
Monte Titoli
Monte Titoli is a leader in the
Post-Trade industry with c. €3.3 trillion of assets under custody.
Monte Titoli offers pre-settlement, settlement, custody, asset
servicing and collateral management services on domestic and cross
border securities as well as issuer services to a large domestic
and international client base of 100 banks, brokers, CCPs and stock
exchanges and 2,300 issuers.
In 2015, its settlement service processed 60.3 million
instructions. With a transaction settlement rate of 99% of
transactions, Monte Titoli is the largest CSD in the initial wave
of T2S and is fully operational on the pan-European platform.
Monte Titoli aims to strengthen its presence in Europe by serving its Clients with a full set
of core and added value services for T2S markets. X-COM, Monte
Titoli Collateral Management platform, has been enhanced with the
launch of a tri-party repo service guaranteed by CC&G. Monte
Titoli is part of London Stock Exchange Group.
This press release is issued by The Bank of New York Mellon to
members of the financial press and media. All information and
figures source BNY Mellon unless otherwise stated as at
September 30, 2016. The Bank of New
York Mellon, London Branch,
registered in England and
Wales with FC005522 and BR000818.
Branch office: One Canada Square,
London E14 5AL. The Bank of New
York Mellon is supervised and regulated by the New York State Department of Financial
Services and the Federal Reserve and authorised by the Prudential
Regulation Authority. The Bank of New York Mellon London branch is
subject to regulation by the Financial Conduct Authority and
limited regulation by the Prudential Regulation Authority. Details
about the extent of our regulation by the Prudential Regulation
Authority are available from us on request.
Contact:
Malcolm Borthwick
BNY Mellon
+44 20 7163
4109
malcolm.borthwick@bnymellon.com
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SOURCE BNY Mellon