BNY Mellon’s Digital Asset Custody Goes Live BNY Mellon reports that its Digital Asset Custody platform has gone live in the U.S. and key clients can “hold and transfer bitcoin and ether,” establishing the custodian’s capability to offer traditional and digital asset servicing. The firm launched an enterprise digital assets unit in 2021 “to develop… Read More >>
BNY & Goldman Sachs Test Drive DLT & Other News
BNY & Goldman Sachs Pioneer DLT-Based Securities Financing BNY Mellon and Goldman Sachs have “completed the industry’s first agency securities lending transactions” via the distributed ledger technology (DLT) platform of HQLAᵡ , a financial technology vendor focused on securities finance and repo transactions. “As part of the combined series of 35-day term transactions with a… Read More >>
BNY Mellon Unit & SEC Resolve ESG Omissions Case
BNY Mellon Investment Adviser (BNYMIA) is paying a $1.5 million penalty to the SEC to settle charges that it made “misstatements and omissions” about the mutual fund reviews that were intended to verify whether environmental, social, and governance (ESG) concerns were considered when investment decisions were made. As the SEC explains in its order, its… Read More >>
Asset Tokenization Could Reinvent Post-Trade Ops: Report
Asset tokenization holds a lot of promise for traditional capital markets, particularly via the underlying blockchain technology. But getting to the new benefits could mean a gradual replacement of some incumbent post-trade platforms, systems, and services. That’s what David Easthope tells FTF News. Easthope is a senior analyst covering market structure and technology for the… Read More >>
StanChart Uses A.I. for Onboarding Funds & Other News
Standard Chartered Joins the Saphyre Platform Standard Chartered’s capital markets division is using a platform that applies artificial intelligence (A.I.) to the onboarding process for new funds and for the maintenance of those funds, say officials at Saphyre, which is the name of the platform and the financial technology vendor that created it. The patent-approved… Read More >>
Fidelity Gives a Nod to Bitcoins & Other News
Fidelity Launches a 401(k) Plan for Digital Assets Fidelity Investments will allow individuals to allocate a portion of their retirement savings to Bitcoin if their employers also agree to allow the cryptocurrency to be part of a 401(k) plan, officials say. To facilitate this change, Fidelity has launched the “workplace Digital Assets Account (DAA)” 401(k)… Read More >>
BNY Mellon & Aon Form ESG Alliance & Other News
BNY & Aon to Focus on ESG Data & Analytics The Bank of New York Mellon Corp. (BNY Mellon) and Aon are partnering to focus on the environmental, social, and governance (ESG) needs of clients by combining their respective ESG data and analytics capabilities and unique data sets, officials say. The data and digital collaboration… Read More >>
BNY Mellon FSI DAC Fined $12M for Regulatory Breaches
Citing 16 breaches of the regulations governing fund administration outsourcing, the Central Bank of Ireland fined BNY Mellon Fund Services DAC a total of €10,780,000 ($11.9 million), making it the largest monetary penalty to date ever imposed on a fund services provider in Ireland. “BNY DAC is the second-largest fund administrator in Ireland with just… Read More >>
BNY Mellon-Amundi Pact Extends to Fund Administration
In an extension of an existing alliance, BNY Mellon will be deploying trustee control and compliance monitoring services from Amundi Technology for its global depositary and fund administration operations in a bid to improve its processes and better serve clients, officials say. The custodian bank will be using the offerings of the Amundi Leading Technologies… Read More >>
BNY Mellon Buys Optimal’s Indexing for ‘Pershing X’
Other BNY Mellon Units to Get Direct Indexing Too The Pershing clearing and custody services business of BNY Mellon is acquiring Optimal Asset Management, a direct indexing solutions provider, and will offer Optimal’s capabilities to advisory clients within Pershing, and to institutional and retail clients within BNY Mellon’s Investment Management business. If the acquisition… Read More >>
