BNY Mellon offers direct clearing and settlement in Netherlands

NetherlandsBNY Mellon has signed a deal with the securities depository Euroclear Netherlands to give its clients direct access to the Dutch market. Clients of the firm's Broker-Dealer Services, which provides tri-party collateral management, will be able to use a later deadline for securities instructions and get quicker updates for transaction reporting. Drew Demko, global head of sales for Europe, Middle East and Africa (EMEA) at the Broker-Dealer Services division, said: “This is an important step for clients wishing to access the Dutch market and ties in with BNY Mellon's strategic focus in moving closer to market for our global clearing product.” BNY Mellon says its Broker-Dealer Services division manages $1.8 trillion (€1.3 trillion) in tri-party balances. ©2011 funds europe

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