BNY Mellon has announced it has been selected to provide middle office services for BBVA Asset Management's global funds range via its service offering, Derivatives360.
Patrick Tadie, global business head for Derivatives360 at BNY Mellon, said: “BBVA’s decision to choose Derivatives360 for its increasingly sophisticated derivatives servicing needs in Spain and Mexico underlines how we are delivering capabilities from across our whole organization to benefit investors and issuers.”
Services include OTC trade affirmation and confirmation, independent (third-party) valuation, lifecycle event management, portfolio reconciliation, and collateral management and custody.
Frank Froud, head of EMEA at BNY Mellon Asset Servicing, said, “We will support [BBVA] in respect to credit considerations and product complexity, as well as their emerging needs arising from regulation and on-going industry standardisation. This approach will ensure BBVA benefits from end-to-end support and transparency, before, during and after a trade.”
