BNY Mellon launches Korea pledge model 13 December 2022US Reporter: Carmella Haswell
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BNY Mellon has gone live with its enhanced Korea pledge product on the firm's International Collateral Management platform.
With the enhanced Korea pledge model in triparty, the firm says that equities and Korean treasury bonds (KTB) can be utilised more efficiently as collateral.
This can be done under BNY Mellon’s standard pledge arrangements with real-time security interest pledge marking.
BNY Mellon indicates that with a recent amendment introducing tax exemption on KTBs in South Korea, the asset becomes more appealing to support a firm’s collateral obligations.
CEO of clearance and collateral management at BNY Mellon Brian Ruane says: “We are delighted to announce that the enhanced Korea pledge product is now live on our International Collateral Management platform.”
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