BNY Mellon Expands Short-Term Investment Offerings on LiquidityDirect

BNY Mellon announced the expansion of its short-term investment product offering to meet investor demand for higher-yielding investments.

LiquidityDirect, the bank's short-term investing platform for institutional investors, is now adding mutual funds, interest-bearing deposits and sponsored cleared repurchase agreement sweep products aimed at corporate treasurers seeking to maximize liquidity and minimize counterparty credit risk in an uncertain economic environment.

"Throughout market cycles, the global demand for liquidity remains paramount for all market participants. A critical component to meeting clients' needs is providing integrated access from a single source to an array of liquidity solutions," said Adam Vos, CEO of BNY Mellon Markets & Execution Services. "We have built—and now significantly enhanced—our LiquidityDirect platform to offer clients exactly these types of innovative solutions, to meet their dynamic investment and risk criteria as they execute on their liquidity strategy."

"Our clients have conveyed a need to streamline management of their short-term investments – and we listened," added George Maganas, Global Head of Liquidity Services at BNY Mellon. "Through the expansion of our LiquidityDirect product suite, we are providing them with a comprehensive set of short-term investment options through a single point-of-access. We will continue evolving the platform to enhance our clients' experience by incorporating the latest market developments, investment options with seamless integration and data management they demand."

BNY Mellon has been continuously improving its offerings and service. Last month, Pershing X, a business unit and technology provider of BNY Mellon | Pershing, reached a cooperation with Snowflake​, a cloud computing–based data cloud company based in Bozeman, Montana, to introduce the Snowflake Data Cloud to its suite of data offerings for customers, enabling clients of Pershing X to access their data more quickly and efficiently manage, collect, and report their data.

In January, the bank and Fiserv​, a leading global provider of payments and financial services technology, had joined forces to deliver additional capabilities for real-time foreign exchange (FX) rate quotes for payments from U.S. financial institutions. Furthermore, it also announced a new outsourced trading offering for buy-side institutions​ globally, including asset managers and asset owners in the same month, giving clients significant opportunities for operational and strategic efficiencies, savings and expansion.