BNY Mellon launches OmniAccess 15 February 2012New York Reporter: Anna Reitman
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BNY Mellon Asset Servicing has launched a service for fund asset managers and broker dealers that improves data transparency and efficiency on distributed funds through a centralised platform.
The platform, OmniAccess, provides fund managers with direct access to the same information used by broker dealers in the omnibus environment. In other words, trades from multiple shareholders are combined into a single account for more efficient trade processing.
"OmniAccess provides clients with the resources they need to optimally manage their shareholder serving obligations," said Michael DeNofrio, head of US investor services within BNY Mellon Asset Servicing's Global Financial Institutions business. "It marks an advance in providing transparency and improves coordination between the funds and distributors."
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