BNY Mellon is set to provide derivatives collateral management services to the German investment management industry, via DM Edge platform.
DM Edge is a derivatives margin management service, which allows customization of the margin and collateral process which incorporates the processing, reinvestment and valuation activities associated with posting and receiving collateral for OTC derivative transactions.
WestLB Mellon Asset Management, a joint venture between WestLB Asset Management and BNY Mellon, is the first German asset manager to begin to use these services.
Jim Malgieri, CEO of broker-dealer services at BNY Mellon, said: “More German funds now require collateral to be put in place with related swaps and the capacity to support multiple funds with different sub custodians is an important feature of the German market. DM Edge provides a valuable service to asset managers by delivering a scalable solution and providing clients with confidence in their ability to control the margin management process.
“We look forward to working closely with investment managers in Germany, supporting their collateral management function and helping to bring in further fund client business to assist the growth of their operations.”