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BNY Mellon First Bank to Add Agency MBS Cleared Repo to Sponsored Member Program
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BNY Mellon First Bank to Add Agency MBS Cleared Repo to Sponsored Member Program
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FICC Sponsored Cleared Repo Now Available via BNY Mellon s LiquidityDirect
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NEW YORK, April 15, 2021 /PRNewswire/ Institutional clients are now able to seamlessly invest cash in cleared repo through LiquidityDirect
sm, BNY Mellon s market-leading short-end investment portal.
The addition of cleared repo represents the next step in BNY Mellon s continuing plans to enhance the LiquidityDirect platform and its services to enable clients to invest in a wide variety of short-end investment products.
Cleared repo through the Fixed Income Clearing Corporation (FICC) has emerged as an important short-term investment option for liquidity providers, particularly since 2017 when changes in entry requirements increased the community of investors eligible to utilize the product, many of whom use LiquidityDirect today.