BNY Mellon Clearing has selected MF Global Holdings, a New York-based brokerage firm, to provide clearing services and infrastructure support for its new futures commission merchant offering.
Steve Grady, executive vice president and global head of client solutions of MF Global, said: “We will leverage our core competencies to support BNY Mellon Clearing in providing its clients a leading clearing service along with access to major exchanges and clearinghouses around the world.”
Sanjay Kannambadi, CEO of BNY Mellon Clearing, said: “With the rapid changes occurring in the marketplace, we wanted a firm that had a global reputation and track record in supporting futures and derivatives clearing activities. By leveraging MF Global’s expertise, we are providing our clients with a compelling value proposition in the derivatives markets.”
MF Global Holdings is a cash and derivatives brokerage firm that offers clearing, and settlement services in exchange-traded and over-the-counter markets.