NEW YORK, September 28, 2017 ‑ BNY Mellon and Hazeltree, a leading provider of treasury solutions, have joined forces to deliver an independent platform that streamlines cash management for buy-side and corporate firms. The initiative delivers BNY Mellon’s full suite of cash, treasury and custody services through Hazeltree’s advanced treasury management technology.
The strategic relationship not only provides BNY Mellon clients with full transparency across their portfolio, regardless of where their money is held, but optimizes cash investment, streamlines FX hedging, and drives increased efficiency. By linking participants with BNY Mellon’s award-winning Liquidity DIRECTSM solution, clients can also take advantage of an array of investment vehicles.
In a collateral management study released in June, BNY Mellon found that over 60% of firms are developing enterprise-level functions to optimize the sourcing of collateral, funding and liquidity. The new platform addresses this industry need.
“At a time of increasingly complex global markets, this integrated platform can make the treasury function a lot more efficient,” said Jonathan Spirgel, Head of Global Liquidity Services, BNY Mellon Markets. “It enhances performance, while ensuring that participants maintain the level of security and liquidity of their assets they rightly expect from BNY Mellon.”
“Many firms are missing opportunities to optimize their cash usage due to manual and incomplete processes,” said Sameer Shalaby, President and CEO of Hazeltree. “Our new platform increases transparency into their holdings, minimizes frictional costs and reduces operational risk.”
The initiative is being rolled out in phases to select BNY Mellon clients, that will be provided access to both the Hazeltree technology platform and the existing BNY Mellon infrastructure, including efficient payment processing via SWIFT.
About BNY Mellon
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. As of June 30, 2017, BNY Mellon had $31.1 trillion in assets under custody and/or administration, and $1.8 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.
Hazeltree is the leading Treasury Management solution provider, serving hedge funds, asset managers, fund administrators, insurance companies and pension funds with powerful, proactive performance enhancement and risk mitigation capabilities that generate alpha from operations, reduce a range of risks and streamline operations. Hazeltree’s integrated treasury management solution includes comprehensive cash management, securities financing, collateral management, counterparty management and margin management capabilities. Hazeltree is headquartered in New York with offices in London and Hong Kong. For more information, please visit www.hazeltree.com.