International central securities depositaries Clearstream and Euroclear Bank have appointed BNY Mellon to provide them with sub-depository services in the Asia Pacific.
The mandate will allow Asia Pacific-issued global notes to be deposited locally in Hong Kong with BNY Mellon.
Gary Lew, head of corporate trust in the Asia Pacific at BNY Mellon, said the decision to expand its sub-depository service is designed to meet the growing demand for bond and note issuances in the 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.”
Euroclear Bank Hong Kong branch CEO Ivan Nicora added: “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.”
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