Move reflects rising demand in bond issuance volumes in Asia Pacific
HONG KONG, Oct. 13, 2015 /PRNewswire/ -- BNY Mellon, a global leader in investment management and investment services, has been appointed by Clearstream and Euroclear (International Central Securities Depositaries or "ICSDs") to provide sub-depositary services in Asia Pacific ("APAC") allowing APAC issued global notes to be deposited locally in Hong Kong with BNY Mellon.
This extension of BNY Mellon's established sub-depositary capability into the APAC region offers Asian issuers greater access to global capital markets and enhanced efficiency and flexibility in their settlement processes.
Gary Lew, head of Corporate Trust in Asia Pacific for BNY Mellon, said the decision to expand this service is designed to meet the growing demand for bond and note issuances in the APAC region.
"With bond issuance volumes in Asia continuing to rise, BNY Mellon continues to be invested in the development of its resources and technologies to broaden our offering in this area", said Lew. "This new capability will enable us to deliver value added solutions to our clients who are issuing securities into the international debt markets and this will further complement our existing Corporate Trust product suite. We will offer our Asian sub-depositary capability in APAC with Euroclear Bank and Clearstream, both of which are long-term partners of BNY Mellon."
Alton Chan, Clearstream's Regional Head of North Asia, said: "Clearstream is very pleased to collaborate with BNY Mellon to extend their offering of Common Depositary services in Hong Kong, supporting the Asia Pacific region. The development of this service shall bring added value to issuers in the region and investors globally, increasing efficiency and access to global capital markets. Clearstream will increasingly use its operational presence in Singapore to support the development of the international securities market."
"I am delighted that our long-standing European relationship with BNY Mellon acting as a Common Depositary has now been extended to the Asia Pacific region", stated Euroclear Bank Hong Kong branch Chief Executive Officer, Ivan Nicora. "This expanded service offering further illustrates the continued importance of the region in the capital markets space. Throughout the region, in particular via our 150 operational staff based in Hong Kong, we have been serving the needs of regional issuers and investors alike for years. This development underscores BNY Mellon's regional aspirations and we look ahead to the continuing growth of the international securities market together with BNY Mellon as a key partner."
This new service complements BNY Mellon's existing Corporate Trust capabilities in the region to position itself at the forefront of initiatives to provide full service closing facilities in region, in collaboration with its ICSD partners.
BNY Mellon Corporate Trust clients include governments and their agencies, multinational corporations, financial institutions and other entities that access the global debt capital markets. The Corporate Trust business utilizes its global footprint and expertise to deliver a full range of issuer and related investor services and to develop customized and market-driven solutions. Its range of core services includes debt trustee, paying agency, escrow and other fiduciary business. As of June 30, 2015, BNY Mellon Corporate Trust has served as trustee and/or paying agent on more than 60,000 debt-related issues globally.
Notes to editors:
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. As of June 30, 2015, BNY Mellon had $28.6 trillion in assets under custody and/or administration, and $1.7 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.
This release is for informational purposes only. BNY Mellon provides no advice nor recommendation or endorsement with respect to any company or securities. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities. Depositary Receipts: Not FDIC, State or Federal Agency Insured; May Lose Value; No Bank, State or Federal Agency Guarantee. BNY Mellon provides no advice nor recommendations or endorsement with respect to any company, security or products based on any index licensed by BNY Mellon, and we make no representation regarding the advisability of investing in the same. For more disclosures, see https://www.bnymellon.com/us/en/disclaimers/business-disclaimers.jsp#corporatetrust.
+852 2840 9732
SOURCE BNY Mellon