EquiLend and BNY Mellon Develop Seamless Link to Communicate and Match RQV Figures

EquiLend and BNY Mellon Develop Seamless Link to Communicate and Match RQV Figures

NEW YORK (August 15, 2013) — With the need for timely settlement of collateral, EquiLend’s new Tri-Party Connectivity service helps to expedite the agreement and communication of required value (RQV) figures, while ensuring clients always know the status of their trades.

EquiLend clients can submit values for all of their counterparties in one place. Group instruction functionality enables agent lenders to instruct tri-party trades at the underlying principal level and match against a single borrower trade amount.

The service facilitates the pre-matching of trades before they are sent in real time to BNY Mellon. BNY Mellon responds with updates that EquiLend processes, generating individual trade statuses viewable on the EquiLend User Interface. The new service not only enhances EquiLend’s post-trade efficiencies, but also benefits BNY Mellon’s current Auto Deal Matching (ADM) offering.

Brian Lamb, CEO of EquiLend, says: “Having conducted an extensive build and beta phase with BNY Mellon and our clients, we are confident that EquiLend’s offering to communicate and process RQV figures is best in class. We look forward to continuing our work with BNY Mellon for the benefit of the market.”

James Slater, Global Head of Securities Financing at BNY Mellon, says: "In today's fast-evolving marketplace, clients are increasingly focused on managing risk, complexity and the need for greater transparency. BNY Mellon has a long history of helping our clients in these areas. This new service is further evidence of our commitment to enhancing the connectivity of BNY Mellon's tri-party system for both lenders and borrowers."

About Us

EquiLend is a global financial technology firm offering Trading, Post-Trade, Data & Analytics, RegTech and Platform Solutions for the securities finance industry. With offices in North America, EMEA and Asia-Pacific, EquiLend operates across various jurisdictions worldwide, adhering to the highest regulatory standards. The company is committed to excellence and innovation and is consistently recognized for its contributions to the industry. EquiLend is Great Place to Work Certified™ in the U.S., UK, Ireland and India. For more information, please visit www.equilend.com

Used by securities borrowers and lenders globally, the EquiLend platform (for equities) and BondLend platform (for fixed income) automate formerly manual trading and post-trade processes in the securities finance industry. Using EquiLend's complete end-to-end services reduces the risk of potential errors and eliminates the need to maintain costly point-to-point connections while allowing firms to drive down unit costs. DataLend, the securities finance market data division of EquiLend, provides highly cleansed and standardized securities finance data covering all asset classes, regions and markets globally.