Our safekeeping services include automated trade capture, comprehensive real-time reporting including fail monitoring and reconciliation. Backed by a dedicated team, we have the flexibility to support customised processes.
- Pre-matching/matching of trades
- Proactive resolution of settlement problems
- Reporting of reason code on failed transactions
- Special services (cross-border trades, late instructions, etc.)
- Intra-day controls and trade management
- End-of-day confirmation and control
- Active monitoring of all pending trades
Cash processing capabilities include support of third-party foreign exchange, auto cash sweeps into money market funds with real-time cash availability, forecasting and projections. We can tailor a cash sweep solution to match your objectives and our focus on straight-through-processing maximises processing efficiency.
- Highly automated and controlled processing environment
- Proactive intra-day overdraft management
- Support of standing instructions
- Interest bearing accounts available
- Access to BNY Mellon Capital Markets and Treasury Markets and Treasury Desk
- Auto cash sweeps into money market funds
- Time deposits
- Daily reconciliation of cash and securities
- Segregation of duties and dual control
Income processing support provides contractual income in more than 40 markets and includes standing instructions and submission of claims for payments. We have specialists by market who monitor subcustodian performance and track outstanding reclaims.
- Responsible for documentation, researching tax rates, preparing, monitoring and collecting foreign tax reclaims
- Generates the necessary tax reclaims with the income events
- Standing Instruction capability
- Comprehensive reporting of income notification, projection and posting via SWIFT and NEXEN
- Multiple information sources
Corporate events include a variety of services including proactive client response management, investigation into unsolicited instructions, mandatory and voluntary support, courtesy reminders and follow-up through our online system or SWIFT. Our service supports timely posting of all transactions and proactive client response management.
- Multiple sources of data feeds
- Voluntary, mandatory, Class actions and FYIs
- Drill-down capabilities: announcement detail, traded position, settled position, transaction detail, release of official announcement
- Reconciliation entitlement date
For proxy voting, BNY Mellon leverages Broadridge Financial Solutions for highly automated proxy ballot distribution and vote collection processing. As part of our solution, we provide notification of known litigations to clients for their downstream process.
Proxy voting key features:
- Provides listing of upcoming shareholder meetings for up to three weeks in advance based on record date
- Asset positions based on trade and settlement date
- On-loan positions segregated
Class actions key features:
- Pending claims report provides details for class actions that are in progress, filed, or rejected
- Notice of settlement and claims form available
The comprehensive tax services include proactive tax treaty monitoring, automated relief at source, tax documentation completion support, and automated documentation tracking and renewal system. Our service reduces manual processing and gives you the ability to actively track reclaims that are outstanding due to lack of documentation.
- Staff of over 100 full-time professionals responsible for documentation, researching tax rates, preparing, monitoring and collecting foreign tax reclaims
- Fully automated process generates reclaims with the income event
- Reclaim status is tracked throughout its lifecycle
- Work closely with industry working groups to resolve international tax issues
Our documentation and account maintenance services provide clients with expertise in opening accounts in complex global markets. These functions include monitoring market changes, tracking tool for expired documents, and a facilitation of document legalisation process to achieve timely market openings.
- Support in preparation of appropriate client documentation for markets
- Coordinates for processing and submissions to our sub-custodians
- Maintains and disseminates client-specific MIS on all pending documented market openings
- Updates client on opening status