BNY Mellon Launches Auction Marketplace for Fixed Income Securities

Structured Credit Connection(SM) Unites Buyers and Sellers Anonymously, Improving Transparency, Liquidity and Price Discovery

Jun 09, 2010, 12:43 ET from BNY Mellon

NEW YORK, June 9 /PRNewswire-FirstCall/ -- BNY Mellon, the global leader in asset management and securities servicing, has introduced Structured Credit Connection(SM), an innovative real-time auction marketplace where buyers and sellers of fixed income securities can anonymously transact with one another.

Structured Credit Connection provides participants with access to extensive collateral and loan level data, as well as a variety of integrated analytical systems designed to improve confidence in the marketplace for all types of structured credit securities, including those with less liquidity.

"Currently, there is no single market for buyers and sellers that provides reliable and transparent information and loan level data for fixed income securities," said Karen Peetz, CEO of Financial Markets & Treasury Services at BNY Mellon.  "Structured Credit Connection unites participants anonymously in a single marketplace and provides them with access to data and tools they can use to evaluate their securities.  This will greatly enhance the clarity around the securities being traded and participants' confidence in the overall auction process."

In addition to creating an auction market for fixed income securities, Structured Credit Connection can also be used by clients to conduct high-level portfolio analysis and/or monitor overall market activity.  Trading and execution services are provided through BNY Mellon Capital Markets, LLC, an SEC-registered broker-dealer*.

As the world's leading provider of securities services, BNY Mellon is uniquely positioned to provide the full range of capabilities embedded in the Structured Credit Connection platform, including trading and execution, clearing and settlement, custody, analytics and reporting.  Additional information about Structured Credit Connection is available at scc.bnymellon.com.

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 $22.4 trillion in assets under custody and administration, $1.1 trillion in assets under management, services $11.8 trillion in outstanding debt and processes global payments averaging $1.5 trillion per day.  Additional information is available at www.bnymellon.com.  

*BNY Mellon Capital Markets, LLC ("BNYMCM"), a wholly owned non-bank subsidiary of The Bank of New York Mellon Corporation, is a registered broker-dealer and member of The Financial Industry Regulatory Authority and of the Securities Investor Protection Corporation ("SIPC"), which protects customers of its members up to $500,000 in securities (including $100,000 for claims for cash). Information about SIPC, including the SIPC brochure is available by contacting SIPC at http://www.sipc.org/ or by writing to Securities Investor Protection Corporation, 805 15th Street, N.W. Suite 800, Washington, D.C. 20005-2215, or by calling them at Tel: (202)371-8300. SIPC's facsimile number is (202)371-6728 and their email is: asksipc@sipc.org. Supplemental protection is provided by a private insurance company for account net equity in excess of $500,000.  This protection is not equivalent to and is separate and apart from FDIC insurance.

Securities Products: Not FDIC-Insured or Guaranteed by the Federal Government -- Subject to Loss in Value -- Not a Deposit of or Guaranteed by a Bank or any Bank Affiliate.

SOURCE BNY Mellon



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