BNY Mellon has introduced Structured Credit Connection, a real-time auction marketplace where buyers and sellers of fixed income securities can anonymously transact with one another.
According to BNY Mellon, the Structured Credit Connection will provide participants with access to extensive collateral and loan level data, as well as a variety of integrated analytical systems for all types of structured credit securities, including those with less liquidity.
In addition to creating an auction market for fixed income securities, Structured Credit Connection can also be used by clients to conduct portfolio analysis and/or monitor overall market activity.
Trading and execution services will be provided through BNY Mellon Capital Markets, an SEC registered broker-dealer.
Karen Peetz, CEO of financial markets and treasury services at BNY Mellon, said: “Currently, there is no single market for buyers and sellers that provides reliable and transparent information and loan level data for fixed income securities. Structured Credit Connection unites participants anonymously in a single marketplace and provides them with access to data and tools they can use to evaluate their securities. This will greatly enhance the clarity around the securities being traded and participants’ confidence in the overall auction process.”