BNY Mellon to offer derivatives clearing

BNY Mellon to offer derivatives clearing

The company has already been authorised as a futures commission merchant, and is registered with the National Futures Association. It plans to become a clearing member on major exchanges and central clearinghouses around the world.

Sanjay Kannambadi will be CEO, reporting to Art Certosimo, CEO of alternative and broker-dealer services at BNY.

“BNY Mellon Clearing will provide clients with our extensive operations, technology, risk, finance and compliance capabilities, along with access to exchanges and clearinghouses around the world,” said Kannambadi. “The company’s formation is designed to anticipate the rapid changes occurring in the clearing and settlement process for derivatives and the need for institutional investors to have a capable, stable partner as the market grows and evolves.”

The news came a month after BNY Mellon’s Pershing back office arm launched GlobalClear, a new clearing, settlement and custody service for institutional broker-dealers in Europe.

Clients can use it to outsource their back office systems and operations. Pershing has clearing memberships with LCH.Clearnet, SWX Europe, Eurex Clearing and Clearstream. Though GlobalClear will offer support for listed derivatives, its immediate focus will be on equity and fixed income instruments.

Most Popular

Thought Leaders

SmartStream RDU gears up for Mifid II challenge

SmartStream won the FOW Award for best new technology product in both the trade...

Total Return Futures - a real-life example for futurisation

Eurex won the FOW Prop Traders' exchange of the year award

ABN AMRO Clearing is optimistic about the future of proprietary trading

ABN AMRO Clearing won the award for proprietary traders' clearing firm of the...

Wematch: Shining a light on collateral and securities financing

Wematch discusses regulatory tailwinds, building liquidity and supporting banks...