BNY Mellon, is to provide derivatives collateral management services to the German investment management industry, via its DM Edge platform. DM Edge is a comprehensive derivatives margin management service allowing customization of the margin and collateral process which incorporates the processing, reinvestment and valuation activities associated with posting and receiving collateral for OTC derivative transactions.
Jim Malgieri, CEO of Broker-Dealer Services at BNY Mellon, said: "More German funds now require
collateral to be put in place with related swaps and the capacity to support multiple funds with different sub custodians is an important feature of the German market. DM Edge provides a valuable service to asset managers by delivering a scalable solution and providing clients with confidence in their ability to control the margin management process. We look forward to working closely with investment managers in Germany, supporting their collateral management function and helping to bring in further fund client business to assist the growth of their operations."
WestLB Mellon Asset Management, a joint venture between WestLB Asset Management and BNY Mellon,
is the first German asset manager to begin to use these services. WestLB Mellon manages a large number
of different funds with different custodians and therefore chose to a solution that could deliver the depth, breadth and flexibility of collateral management services for their operations, particularly in multiple depobanks/custodians.
WestLB Mellon Asset Management is a 50:50 joint venture formed in April 2006 between WestLB AG
and The Bank of New York Mellon. WestLB Mellon has USD 30.9bn in assets under management, with
special expertise in the management of European Fixed income and equity products.