The upgrade â available via BNY Mellon Asset Servicingâs web-based information delivery and transaction platform â offers clients greater flexibility for managing corporate events, such as tender offers, conversions, mergers, exchanges, maturities, called bonds, rights, warrants, liquidations, bankruptcies, stock splits, stock distributions and put bonds.
Clients can now easily view mandatory and voluntary notifications online and submit an appropriate, timely electronic response for either a single account or a consolidated notification for several accounts. Partial and full responses can also be submitted, while previously submitted responses can be withdrawn prior to the event deadline.
This latest enhancement supports BNY Mellon Asset Servicingâs commitment to pioneering technology improvements to ensure effective mitigation of corporate actions risks.
âCorporate actions risk has been a code red area in the securities industry for many years,â said Tim Keaney, co-chief executive officer of BNY Mellon Asset Servicing. âWe are committed to enhancing our corporate actions processing to improve the efficiency and effectiveness of the organizations we serve. These latest technological advancements are an excellent example of collaborative innovation that highlights our commitment to this important area.â
Mr. David Galli Head of Operations from Banca Popolare di Milano, a major client of BNY Mellon Asset Servicing, said: "This is a fantastic state of the art system. Not only is it very user-friendly but it will also help us to better manage the risks associated with corporate action events."