BNY Mellon Asset Servicing, the global leader in securities servicing, today announced it has enhanced its over-the-counter (OTC) derivatives services by providing automated OTC trade affirmation and confirmation to investment managers and financial institutions in the United States and Europe. The enhancements also enable BNY Mellon to deliver daily, automated OTC position reconciliation and market value reconciliation with counterparties.

On behalf of its clients, BNY Mellon can now match economic terms of the transaction on trade date, confirm activity through straight-through processing and reconcile positions, and perform valuation comparison. In providing these services, BNY Mellon has licensed the use of Markit Trade Manager, a leading trade risk management platform. Additionally, BNY Mellon has licensed MarkitPortRec platform, an automated position reconciliation and valuation comparison service. Markit also will provide complete connectivity to industry utilities such as Markit Wire and DTCC.

"We have a multi-year program of investing in derivatives services and ...   more »