BNY Mellon will provide LCH.Clearnet’s members and clients with a choice of provider both for lodging collateral at the commencement of a trade and for managing the allocation of funds to either party due to market variation throughout the lifecycle of the trade.
LCH.Clearnet head of SwapClear US Daniel Maguire said that they are very pleased to be able to name BNY Mellon as a collateral custodian. This provides their members and their clients with a choice of custodian with which to lodge collateral, whilst maintaining their stringent approach to risk management.
BNY Mellon broker-dealer services global head of product management and strategy managing director John Vinci said that they have the operational infrastructure and expertise to handle the collateral management needs of clients globally and they are extremely pleased to work with LCH.Clearnet to provide additional choice and capabilities to their members.
