BNY Mellon will soon be offering direct custody and settlement services in the Netherlands. The provider of tri-party collateral management services, servicing more than $1.8 trillion in tri-party balances worldwide, has entered into a direct contractual arrangement with Euroclear Netherlands for the same. The arrangement will allow BNY Mellon’s broker-dealer services’ clients more timely access to the Dutch market by maximizing pre-matching and turnaround capabilities. The clients will be able to utilize a later deadline for security instructions. The move will provide clients with faster updates for transaction reporting.
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