BNY Mellon Selected by Promark Investment Advisors, Inc. to Provide Derivatives Collateral Management Services

NEW YORK, April 12 /PRNewswire-FirstCall/ -- BNY Mellon, the global leader in securities servicing, has been selected by Promark Investment Advisors, Inc., which manages pension plan investment programs, to provide derivatives collateral management services through its Derivatives 360 suite of products.

BNY Mellon will provide derivatives collateral management for swaps, swapoptions, options and foreign exchange.  It also will provide over-the-counter derivatives reconciliation services between counterparties and investment managers.  In addition, BNY Mellon has the capability to provide cash collateral investment through BNY Mellon Cash Investment Strategies (CIS), a division of The Dreyfus Corporation, a registered investment adviser.

“We selected BNY Mellon for this service because they offer a comprehensive solution to support our utilization of derivatives,” said Michael Connors, vice president of operations of Promark.  “This includes improved client reporting and risk mitigation."

"Our derivative services, the Derivatives 360 suite, continue to gain momentum in the marketplace," said James P. Palermo, co-chief executive officer of BNY Mellon Asset Servicing.  "The breadth and sophistication of the offering and our ability to deliver this product from five major financial centers have all contributed to drive the adoption of Derivatives 360."

BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets.  BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team.  It has $22.3 trillion in assets under custody and administration, $1.1 trillion in assets under management, services $12.0 trillion in outstanding debt and processes global payments averaging $1.6 trillion per day. Additional information is available at www.bnymellon.com.  

SOURCE BNY Mellon