BNY Mellon to clear in Netherlands 27 September 2011London Reporter: Anna Reitman
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BNY Mellon has announced that it will now provide custody and settlement services direct in the Netherlands.
The company has established a direct contractual arrangement with Euroclear Netherlands, enabling its Broker-Dealer Services clients more timely access to the Dutch market, through maximising pre-matching and turnaround capabilities. Clients in this market will have the ability to use a later deadline for security instructions and will benefit from quicker updates for transaction reporting.
Commenting on the development, Drew Demko, Global Head of Sales and Business Manager for Europe, Middle East and Africa (EMEA) BNY Mellon Broker-Dealer Services says, “This is an important step for clients wishing to access the Dutch market and ties in with BNY Mellon's strategic focus in moving closer to market for our global clearing product.”
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