BNY Mellon, a global leader in investment management and investment services, has been appointed by Winterflood Securities to provide US DTCC and Canadian securities clearing and custody services.
BNY Mellon Broker-Dealer Services will provide clearing and settlement services, operating as a direct participant in the US and through a single sub-custodian in Canada. Winterflood Securities will benefit from BNY Mellon's enhanced clearing solution, which permits earlier transmission of client orders to the North American market, allowing for realignment of collateral should it be required.
Simon Rafferty, Chief Operating Officer at Winterflood Securities, said: "BNY Mellon impressed us with its experience and knowledge of the North American securities market and its prominence as a leading custody and clearing provider was an important factor in our decision. BNY Mellon is able to provide us with a solution tailored to our specific trading requirements that allows us to deliver timely, high quality services to our clients."
Scott Coey, Head of Broker-Dealer Services EMEA at BNY Mellon, said: "We continue to invest in our technology and solutions to provide our clients with market leading, comprehensive clearing and settlement services. The functionality will provide Winterflood with more timely trading in the US and Canada and a more efficient and streamlined trading process."
BNY Mellon Broker-Dealer Services is respected for its international reach and strong track record in clearing and custody. It was recognised as Clearing Provider of the Year for the sixth time in seven years in Custody Risk magazine's European Awards 2015.