BNY Mellon offers ‘seg-light’ custody model to aid IM prep
Pre-prepared docs would cut unnecessary account fees and reduce risk of trading halts
Bank of New York Mellon is allowing firms caught in the sixth and final phase of the non-cleared margin rules to pre-prepare segregated custody account documents before they are required to post collateral. The service is part of an effort to keep a lid on account fees and reduce the risk of trading halts if relief thresholds are unexpectedly breached.
The vast majority of the 800 firms set to be
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