Pershing offers two new collateral management services
22 May 2012 New Jersey
Image: Shutterstock
Pershing, a BNY Mellon company, have launched two new applications as part of the organization's extensive Enterprise Collateral Management offering that automates the process of moving collateral between the custodian and Pershing Prime Services.
The service is available through Pershing's NetX360, the company's technology platform for fund managers and investment professionals.
The two applications are called PrimeConnect(TM) and PrimeConnect40(TM), the former providing transparency and control of collateral selection and movements to hedge fund managers using BNY Mellon to hold unencumbered assets, and the latter also offering transparency and online collateral movement to '40 Act fund managers using the tri-party structure to support alternative strategies.
"Increasing concern over counterparty risk, coupled with the traditionally cumbersome and time-consuming collateral management process, has led many fund managers to be cautious when pledging collateral to their counterparties," said Gerry Tamburro, managing director at Pershing.
"PrimeConnect and PrimeConnect40 not only eliminate the phone calls, faxes and emails, but they provide a clear window into the movement and management of collateral. Because these applications provide both a consolidated view of an overall portfolio and an online and real-time margin calculator, fund managers are able to more efficiently and effectively place collateral."
The service is available through Pershing's NetX360, the company's technology platform for fund managers and investment professionals.
The two applications are called PrimeConnect(TM) and PrimeConnect40(TM), the former providing transparency and control of collateral selection and movements to hedge fund managers using BNY Mellon to hold unencumbered assets, and the latter also offering transparency and online collateral movement to '40 Act fund managers using the tri-party structure to support alternative strategies.
"Increasing concern over counterparty risk, coupled with the traditionally cumbersome and time-consuming collateral management process, has led many fund managers to be cautious when pledging collateral to their counterparties," said Gerry Tamburro, managing director at Pershing.
"PrimeConnect and PrimeConnect40 not only eliminate the phone calls, faxes and emails, but they provide a clear window into the movement and management of collateral. Because these applications provide both a consolidated view of an overall portfolio and an online and real-time margin calculator, fund managers are able to more efficiently and effectively place collateral."
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