BNY Mellon and GLMX collaborate to connect buy-side clients at point of execution to Triparty

Rhea-AI Summary

BNY Mellon (BK) and GLMX integrate to provide buy-side clients access to Triparty platform, enhancing user experience and expanding repo financing capabilities.

Providing buy-side clients easier access to the world's largest collateral manager with BNY Mellon's Triparty platform

NEW YORK, March 27, 2024 /PRNewswire/ -- BNY Mellon (NYSE: BK) and GLMX announced today a new integration allowing buy-side clients to direct repo trades at point of execution to BNY Mellon's Triparty platform. 

This integration follows growing demand from clients seeking to expand their BNY Mellon Triparty usage beyond uncleared margin segregation into repo financing, helping them to capture more benefits from being on the world's largest collateral platform.

"This integration with GLMX reinforces our commitment to enhance the user experience for our growing buy-side client base on Triparty," said Ted Leveroni, Head of Margin Services, BNY Mellon. "In our 240^th year of business, we are proud to utilize our expertise to form relationships that provide innovative solutions and capabilities for our clients."

"Building interoperability with BNY Mellon creates a seamless workflow from negotiation and execution to settlement for our global clients," said GLMX CEO Glenn Havlicek. "This step is consistent with GLMX's objective of providing a single access point which connects the global money market to deep liquidity pools, regardless of trade structure, settlement type or trading instrument."

This integration connects BNY Mellon, the world's largest collateral manager with a $5.25 trillion Triparty liquidity pool, into GLMX's $2 trillion network. It also addresses the increasing market demand for buy-side clients looking for a single ecosystem to manage both their collateral and liquidity requirements.

About BNY Mellon
Established in 1784, BNY Mellon is America's oldest bank and the first company listed on the New York Stock Exchange (NYSE: BK). Today, BNY Mellon powers capital markets around the world through comprehensive solutions that help clients manage and service their financial assets throughout the investment life cycle. BNY Mellon had $47.8 trillion in assets under custody and/or administration and $2.0 trillion in assets under management as of December 31, 2023. BNY Mellon has been named among Fortune's World's Most Admired Companies and Fast Company's Best Workplaces for Innovators. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. Additional information is available on www.bnymellon.com. Follow us on LinkedIn or visit our Newsroom for the latest company news.

About GLMX
Founded in 2010, GLMX is an independent financial technology company. Wall Street veterans collaborated with Silicon Valley technologists to develop GLMX proprietary technology which provides an intuitive, comprehensive, integrated global money market trading solution for institutional participants. The goal of GLMX is to be a leader in technology, to maximize trade lifecycle efficiency and reporting and to improve client access to market liquidity. For more information, please visit https://www.glmx.com/.

Media:
Ryan Wells, BNY Mellon
ryanw@bnymellon.com

Sal Giglio, GLMX
Sales@GLMX.com
212 854-4569

 

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SOURCE BNY Mellon

FAQ

What integration was announced between BNY Mellon and GLMX?

BNY Mellon and GLMX announced a new integration allowing buy-side clients to direct repo trades to BNY Mellon's Triparty platform.

What is the significance of this integration?

The integration helps buy-side clients expand Triparty usage into repo financing, capturing more benefits from the world's largest collateral platform.

Who is the Head of Margin Services at BNY Mellon?

Ted Leveroni is the Head of Margin Services at BNY Mellon.

What is GLMX's objective in creating interoperability with BNY Mellon?

GLMX aims to provide a single access point connecting the global money market to deep liquidity pools, regardless of trade structure or settlement type.

What is the size of BNY Mellon's Triparty liquidity pool?

BNY Mellon's Triparty liquidity pool is $5.25 trillion.