The Bank of New York Collateral Management Services Announce CALYON and IXIS Corporate & Investment Bank as New Clients
LONDON, September 8, 2005 - The Bank of New York, a global leader in securities services, announces that CALYON Paris and IXIS Corporate & Investment Bank have become new collateral providers in its Collateral Management product. These partnerships mark a new entry for The Bank of New York directly into the French securities lending and financing market.
The Bank of New York’s Collateral Management product has seen steady growth over the past two years. The expansion into the French marketplace is a logical extension of its global reach as the markets become more sophisticated and delegation of the collateral management function to an independent specialist becomes more commonplace.
Art Certosimo, executive vice president and head of broker dealer services at The Bank of New York, said, "We are proud to have worked closely with CALYON Paris and IXIS Corporate & Investment Bank on this pioneering transaction in the French marketplace. With the regulatory changes that Basel II will bring, we see more opportunities to extend our collateral management capabilities to the broader marketplace. In addition, we continue to use our market expertise and innovative technology to drive global capital market efficiencies."
Monique Veillerobe, Managing Director and Global Head of Equity Financing at CALYON Capital Markets continued, "This partnership is complementary to our existing collateral management strategy and we are confident that with The Bank of New York's expertise, we will be able to provide a seamless service to our internal and external clients."
Nicolas Hamar, Head of Equity Finance Europe at IXIS Corporate & Investment Bank said "This arrangement with The Bank of New York allows us to streamline our operational processes and improve our client servicing while simultaneously opening up new revenue generating possibilities. It’s a win/win situation for both our firm and our customers."
The Bank of New York’s collateral management services, including its RepoEdge products, allow Principals to outsource operational aspects of their collateralized transactions. The Bank, as their agent and intermediary, can verify collateral eligibility and mark to market the value of the collateral to ensure proper collateralization throughout the term of each transaction.
RepoEdge®, The Bank of New York’s proprietary collateral management system, offers clients a market-leading global platform for their cross-border needs. The Bank of New York is uniquely positioned to provide integrated servicing of both global fixed income and equity holdings of clients. The Bank’s proven ability to meet the needs of borrowers and lenders continues to make it the leading provider of global collateral management and tri-party repo services, as evidenced by the Bank’s holdings of over $1 trillion in tri-party transactions.
The Bank of New York Company, Inc. (NYSE: BK) is a global leader in providing a comprehensive array of services that enable institutions and individuals to move and manage their financial assets in more than 100 markets worldwide. The Company has a long tradition of collaborating with clients to deliver innovative solutions through its core competencies: securities servicing, treasury management, investment management, and individual & regional banking services. The Company’s extensive global client base includes a broad range of leading financial institutions, corporations, government entities, endowments and foundations. Its principal subsidiary, The Bank of New York, founded in 1784, is the oldest bank in the United States and has consistently played a prominent role in the evolution of financial markets worldwide.
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