BNY Mellon Asset Servicing has launched i-BID Advantage, a new securities lending auction capability delivered via the company's auction platform, i-BID.
The i-BID is used by the traders within BNY Mellon’s agent securities lending program for the benefit of its participating clients. Through i-BID Advantage, BNY Mellon uses that capability to permit its clients operating direct lending programs to auction their securities directly to borrowers.
By utilizing BNY Mellon’s securities lending infrastructure and i-BID Advantage, institutions can discover how global borrowers assess the value of their assets against a range of collateral types.
Kathy Rulong, global head of securities lending at BNY Mellon, said: “i-BID Advantage is a natural evolution of our own securities lending capabilities. Many sophisticated direct lenders want more control over how their assets are lent, to whom, for how long and on what terms. With i-BID Advantage we can help meet that need by opening up the price discovery process to direct lenders and allowing them to assess the lending environment in real-time.
With i-BID Advantage, clients can now view live bids for their portfolios from borrowers around the world. This is especially attractive for those lenders who are moving to an intrinsic value approach, or who wish to enhance the value of their lendable assets via our class leading global collateral management capabilities.”