Product Launch of the Year: Derivatives360 and Awards for Securities Lender of the Year

LONDON, 2010 March 17 — BNY Mellon, the global leader in asset management and securities servicing, has once again been honoured at a leading independent industry awards ceremony, picking up two trophies at the 2010 Global Pensions magazine awards held in London.

BNY Mellon's Derivatives360 solution was named Product Launch of the Year, while BNY Mellon Asset Servicing took top honours in the Securities Lender of the Year category.

Drawing upon BNY Mellon's status as an Aaa-rated derivatives counterparty, Derivatives360 is an integrated investment servicing lifecycle solution that helps clients efficiently execute and manage derivatives transactions. Thanks to its flexible modular design, clients can select some or all of the components offered by the new platform, allowing them to focus resources and management time on their core activities.

Whether they are using derivatives as a hedging tool or as a separate investment strategy, Derivatives360 offers a broad array of services for issuers and investors around the execution and processing of derivatives, including trading and execution; middle and back-office outsourcing; collateral management, accounting and recordkeeping; reporting; and performance and risk analytics.

Art Certosimo, CEO of Alternative and Broker-Dealer Services at BNY Mellon, said: "Since its launch in June of last year, we have seen a tremendous interest from the market for Derivatives360, and we are delighted that all the hard work that has gone into creating this new product suite has been recognised by the industry. Derivatives360 is an innovative solution that combines all our expertise and experience around derivatives processing and settlement in one package, and reinforces our long-standing commitment to providing our clients with simple solutions for complex problems."

As an agent lender, BNY Mellon Asset Servicing is a securities lending partner that offers its clients a total lending solution that combines flexibility, commitment and operational excellence. Adhering to a risk-averse, value-added philosophy, BNY Mellon's aim is to generate lending revenue on a client's portfolio via a business model that uses multiple distribution channels for lending, including our unique i-BIDSM internet based auction platform.

In the post-credit crisis world, clients globally have had cause to re-evaluate their participation in securities lending, conducting thorough and rigorous discussions with their service providers as to how their programmes can be adapted to accommodate the emerging global regulatory environment.  

Jim Palermo, co-CEO of BNY Mellon Asset Servicing, said: "Across the industry, securities lending has undergone a period of realignment and reassessment. Despite tremendous pressures, fundamentally, the model has performed. Nevertheless, challenges remain and must be overcome if this business is to thrive, and BNY Mellon is extremely well positioned to meet those challenges. No other provider can match the breadth of capabilities and expertise we offer the pension fund community, and our record of innovation, the quality of our service and people clearly demonstrates our commitment to our clients and the wider securities lending marketplace."

Notes to editors

BNY Mellon Asset Servicing offers clients worldwide a broad spectrum of specialized asset servicing capabilities, including custody and fund services, securities lending, performance and analytics, and execution services.

BNY Mellon is the second largest provider of outsourced derivatives collateral management services globally.

BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets.  BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team.  It has $22.3 trillion in assets under custody and administration, $1.1 trillion in assets under management, services $12 trillion in outstanding debt and processes global payments averaging $1.6 trillion per day.  Additional information is available at www.bnymellon.com

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 International unless otherwise stated as at December 31, 2009.
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
Authorised and regulated in the UK by the Financial Services Authority.