LONDON, March 4, 2014 /PRNewswire/ -- BNY Mellon, a global leader in investment management and investment services, has confirmed that its Brussels-based central securities depository, BNY Mellon CSD SA/NV, has been accepted as a recognised system for settling transactions in securities listed on the two markets operated by the Luxembourg Stock Exchange.
Chris Prior-Willeard, CEO of BNY Mellon CSD SA/NV, said: "This is a significant step in building out our CSD entity as it gives us the ability to provide straight-through processing for new Luxembourg-listed issues of securities and funds. That new ability and our recognised securities settlement system status are set to become ever more important as new regulations impact CCPs, UCITS and other regulated entities."
Robert Scharfe, CEO of the Luxembourg Stock Exchange, said: "This recognition will extend the range of securities eligible for listing and trading on the Luxembourg Stock Exchange. In addition, it leverages the network of links with CSDs participating in the TARGET2-Securities (T2S) project, including for securities issued outside of Europe."
In December 2012, following approval from the National Bank of Belgium and the granting of a Belgian Royal Decree, BNY Mellon became the first global custodian to launch its own separate CSD entity, which was incorporated as a non-bank subsidiary of The Bank of New York Mellon Corporation.
In May of last year, BNY Mellon CSD SA/NV signed the Framework Agreement with the Eurosystem to allow it to outsource settlement to the T2S settlement platform, set to go live in 2015, committing it to taking all necessary steps to become a part of the T2S infrastructure and to comply with the T2S governance regime.
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About BNY Mellon
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 December 31, 2013, BNY Mellon had $27.6 trillion in assets under custody and/or administration and $1.6 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 or follow us on Twitter @BNYMellon.
About the Luxembourg Stock Exchange
The Luxembourg Stock Exchange is the leading exchange for the listing of international securities. It offers a high quality and efficient listing service that meets the needs of international capital markets and their participants. The long experience of the LuxSE in international securities combined with its established listing procedures attract a very wide range of issuers and financial instruments. Currently, the Luxembourg Stock Exchange has around 40,000 quotation lines, including some 26,500 related to bonds. These come from 3,000 issuers in 100 countries. The Luxembourg Stock Exchange operates two markets: an EU regulated market, called the "Bourse de Luxembourg" market, and the Euro MTF, an exchange-regulated market. All securities are tradable on NYSE Euronext's UTP platform. The LuxSE also operates a specialist subsidiary, Fundsquare (www.fundsquare.net.) that provides services to substantially support and standardise cross-border distribution of investment funds. For more information: www.bourse.lu
This press release is issued by The Bank of New York Mellon to members of the financial press and media.
All information and figures source BNY Mellon unless otherwise stated as at December 31, 2013.
The Bank of New York Mellon, London Branch, registered in England and Wales with FC005522 and BR000818.
Branch office: One Canada Square, London E14 5AL. The Bank of New York Mellon is supervised and regulated by the New York State Department of Financial Services and the Federal Reserve and authorised by the Prudential Regulation Authority.
The Bank of New York Mellon London branch is subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority.
Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request.
SOURCE BNY Mellon