BNY Enhances Margin Direct with New Notification Tools
![Bank of New York on Wall Street Bank of New York on Wall Street](/sites/default/files/styles/landscape_750_463/public/import/IMG/698/209698/bank-of-new-york-580x358.jpg.webp?itok=EnHRYnbl)
Investment services provider BNY Mellon has announced enhancements to the notification capabilities included in its Margin Direct liquidity management tool, which combines the bank's previous client-facing custody and liquidity products.
Aimed at institutional investors looking to separate pledged collateral balances from counterparties, Margin Direct's enhanced communication tools, included in the online users' portal, will allow real-time electronic notification of events like notices of exclusive control and termination, as well as secure sending of attachments with those notifications to selected individuals.
For the bank, the enhancements are necessary as more products become collateralized and cleared under regulation.
"It's essential to anticipate client needs, and post Dodd–Frank demand for segregation of collateral and margin services will continue to grow. Our Margin Direct product is a technological solution that builds on our custodial and liquidity services and … meets these clients needs head on," says Jonathan Spirgel, executive vice president and head of liquidity services for BNY Mellon.
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