Welcome!

News Feed Item

BNY Mellon establishes Central Securities Depository

BNY Mellon CSD will enhance interoperability and efficiency in line with regulatory imperatives

BRUSSELS, Jan. 7, 2013 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment services, has received regulatory approval to launch a new Issuer Central Securities Depository (CSD) entity that will offer market participants enhanced interoperability and efficiency in the global post-trade arena.

BNY Mellon CSD SA/NV will offer issuer, settlement and safekeeping services for the benefit of all market participants across Europe and the wider global marketplace.

Tim Keaney, Vice-Chairman and CEO of Investment Services at BNY Mellon, said: "BNY Mellon supports current regulatory and infrastructure initiatives aimed at making the securities markets more efficient and safer for all participants. Establishing BNY Mellon CSD reflects our proactive engagement with those initiatives to integrate and unify Europe's financial markets infrastructure. As the world's largest provider of investment services, this is a natural evolution of our business and underlines the breadth and depth of services we are able to provide our clients around the world."

Incorporated in Belgium as a non-bank subsidiary of The Bank of New York Mellon Corporation, BNY Mellon CSD will be regulated by the National Bank of Belgium. Chris Prior-Willeard has been appointed CEO of the new entity; he brings over 30 years' experience in the financial services industry, including a range of executive positions within BNY Mellon.

Chris Prior-Willeard said: "In establishing the BNY Mellon CSD, we are redefining what it means to be a global custodian and how our industry will provide investment services. By becoming a CSD, we are responding to the current regulatory imperatives around issuance and settlement services. We will be able to offer our clients access to integrated services across the full spectrum of the securities value chain to allow them to accommodate new requirements mandated by, for example, the European Market Infrastructure Regulation (EMIR)."

As a central securities depository, BNY Mellon will look to leverage linkages to other CSDs around the world to offer clients the benefits of cross-border interoperability, as well as provide services in local markets as a pan-European institution. Clients will also benefit from the speed inherent in settlement internalisation, if both seller and buyer accounts are maintained within the books of the BNY Mellon CSD.

Said Prior-Willeard: "We already provide key elements of the CSD offering to the market, it is just that historically we have done so on a separate basis. This new entity enhances our role in the post-trade space and facilitates an internalization of the securities value chain, which means our clients will benefit from greater efficiency and reduced risk."

A conference call will be held for media representatives at 2pm UK / 3pm CET/ 9am Eastern on Monday January 7, 2013 during which Nadine Chakar, Executive Vice-President, Global Collateral

Services and Chris Prior-Willeard, CEO of BNY Mellon CSD will provide an overview of the new CSD entity and take questions. Dial-in details are as follows:
Belgium                + 32 3 400-2809 / 0800 4 8574
Germany              +49 69 2222 7228 / 0800 000 1654   
UK                      +44 20 7108 6248 / 0800 279 3953
USA                    +1 210-795-1098 / 866-803-2143
Please provide the participant passcode - BNY MELLON 1 - when requested to do so.

Notes to editors:

BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $27.9 trillion in assets under custody and administration and $1.4 trillion in assets under management, services $11.6 trillion in outstanding debt and processes global payments averaging $1.4 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com or follow us on Twitter @BNYMellon.

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, 2012.
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.

SOURCE BNY Mellon

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Struggling to keep up with increasing application demand? Learn how Platform as a Service (PaaS) can streamline application development processes and make resource management easy.
If there is anything we have learned by now, is that every business paves their own unique path for releasing software- every pipeline, implementation and practices are a bit different, and DevOps comes in all shapes and sizes. Software delivery practices are often comprised of set of several complementing (or even competing) methodologies – such as leveraging Agile, DevOps and even a mix of ITIL, to create the combination that’s most suitable for your organization and that maximize your busines...
The increasing popularity of the Internet of Things necessitates that our physical and cognitive relationship with wearable technology will change rapidly in the near future. This advent means logging has become a thing of the past. Before, it was on us to track our own data, but now that data is automatically available. What does this mean for mHealth and the "connected" body? In her session at @ThingsExpo, Lisa Calkins, CEO and co-founder of Amadeus Consulting, will discuss the impact of wea...
See storage differently! Storage performance problems have only gotten worse and harder to solve as applications have become largely virtualized and moved to a cloud-based infrastructure. Storage performance in a virtualized environment is not just about IOPS, it is about how well that potential performance is guaranteed to individual VMs for these apps as the number of VMs keep going up real time. In his session at 18th Cloud Expo, Dhiraj Sehgal, in product and marketing at Tintri, will discu...
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus inter...
We’ve worked with dozens of early adopters across numerous industries and will debunk common misperceptions, which starts with understanding that many of the connected products we’ll use over the next 5 years are already products, they’re just not yet connected. With an IoT product, time-in-market provides much more essential feedback than ever before. Innovation comes from what you do with the data that the connected product provides in order to enhance the customer experience and optimize busi...
Up until last year, enterprises that were looking into cloud services usually undertook a long-term pilot with one of the large cloud providers, running test and dev workloads in the cloud. With cloud’s transition to mainstream adoption in 2015, and with enterprises migrating more and more workloads into the cloud and in between public and private environments, the single-provider approach must be revisited. In his session at 18th Cloud Expo, Yoav Mor, multi-cloud solution evangelist at Cloudy...
In his session at @ThingsExpo, Chris Klein, CEO and Co-founder of Rachio, will discuss next generation communities that are using IoT to create more sustainable, intelligent communities. One example is Sterling Ranch, a 10,000 home development that – with the help of Siemens – will integrate IoT technology into the community to provide residents with energy and water savings as well as intelligent security. Everything from stop lights to sprinkler systems to building infrastructures will run ef...
SYS-CON Events announced today that Enzu, a leading provider of cloud hosting solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive advantage. By offering a suite of proven hosting and management services, Enzu wants companies to foc...
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, will provide tips on how to be successful in large scale machine lear...
SYS-CON Events announced today that Stratoscale, the software company developing the next generation data center operating system, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Stratoscale is revolutionizing the data center with a zero-to-cloud-in-minutes solution. With Stratoscale’s hardware-agnostic, Software Defined Data Center (SDDC) solution to store everything, run anything and scale everywhere...
Digital payments using wearable devices such as smart watches, fitness trackers, and payment wristbands are an increasing area of focus for industry participants, and consumer acceptance from early trials and deployments has encouraged some of the biggest names in technology and banking to continue their push to drive growth in this nascent market. Wearable payment systems may utilize near field communication (NFC), radio frequency identification (RFID), or quick response (QR) codes and barcodes...
Angular 2 is a complete re-write of the popular framework AngularJS. Programming in Angular 2 is greatly simplified – now it's a component-based well-performing framework. This immersive one-day workshop at 18th Cloud Expo, led by Yakov Fain, a Java Champion and a co-founder of the IT consultancy Farata Systems and the product company SuranceBay, will provide you with everything you wanted to know about Angular 2.
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
Unless you don’t use the internet, don’t live in California, or haven’t been paying attention to the recent news… you should be aware that self-driving cars are on their way to becoming a reality. I have seen them – they are real. If you believe in the future reality of self-driving cars, then continue reading on. If you don’t believe in the future possibilities, then I am not sure what to do to convince you other than discuss the very real changes that will roll out with the consumer producti...