BNY Mellon Becomes a Direct Participant in CHAPS
To address your increasing needs for greater transparency, comprehensive risk
Our European offices are the first to benefit from these expanded services. Our Frankfurt Branch offers EUR funds transfer services via TARGET2 clearing and our London branch is processing an increasing array of currencies, and the list is expanding during 2014. In addition, we will transition to GBP funds transfer services cleared directly via CHAPS in May.
These expanding services provide new cash payments capabilities and add enhanced processing efficiencies and transparency including the flexibility to address current and future regulatory requirements. Our investment greatly complements our Treasury Services cash management and commercial payments offerings, which, in addition to the above, include USD funds transfer services and currency account services in greater than 50 currencies and FX payments in greater than 120 currencies. Over time, these services are planned to also migrate to this new infrastructure.