BNY Mellon Launches AIFMD Service
BNY Mellon has launched a new service for fund managers that helps them identify, aggregate and manage the regulatory reporting requirements of the Alternative Investment Fund Manager’s Directive (AIFMD).
Under AIFMD, Alternative Investment Fund Managers (AIFMs) must file a specifically formatted report with their home member state’s supervisory authority, or National Competent Authority. The report requirements are extensive and cover aspects of both the fund manager and the fund, such as investment strategies, exposures, portfolio concentration, total value of assets under management, principal markets and instruments in which investments are made, plus detailed information on the funds’ risk profile.
BNY Mellon will work with its fund administration clients to aggregate and collect the necessary data from designated sources, including AIFMs, administrators, custodians, prime brokers and risk vendors as appropriate. The company will then populate the AIFMD Regulatory Report for the AIFM to review, approve and file with the National Competent Authority.
“Alternative investment fund managers are increasingly challenged by the growing global regulatory reporting demands of AIFMD,” said Alan Flanagan, BNY Mellon global head of product management for alternative investment services. “Our seamless solution will provide them with a signature ready report for their approval and submission, enabling them to stay focused on investment strategy and management.”
BNY Mellon has also enhanced its AccessEdge portal via a new link with Bloomberg to help clients further optimize their collateral management.
BNY Mellon’s AccessEdge portal connects dealers with investors, enabling real-time collateral transfers for repurchase agreements (repos), securities lending, over-the-counter (OTC), central counterparty (CCP) and other collateralized transactions in a secure and efficient environment.
The connectivity allows collateral receivers and providers to instruct collateral trades from the Bloomberg Professional service. By leveraging Bloomberg’s straight-through processing (STP) services, AccessEdge enables clients to consolidate multiple deal confirmations into a single group instruction to facilitate greater post-trade efficiencies. The link will only be available to BNY Mellon’s clients outside the U.S.
“The big attraction of this connectivity for our clients is to reduce post trade risks and improve the post trade efficiency,” said Staffan Ahlner, managing director, Global Collateral Services at BNY Mellon. “It will help them grow their business more efficiently in all securities finance markets, while minimizing their investment in back-office infrastructure and technology. We will continue to invest in technology and infrastructure to offer our clients secure and innovative ways of managing the growing collateral universe.”
Clients can now submit Automated Deal Matching (ADM) instructions for either, all or some of their trades on AccessEdge. ADM allows participants to input, monitor and view trade matching statuses on both a real-time and online basis. Based on the desired parameters, a deal can either be matched, unmatched or mismatched.
The enhancement represents further innovation from BNY Mellon’s Collateral Universe, the company’s suite of second generation collateral management capabilities and solutions, designed to help buy-side clients manage the impact of regulatory change on their investment processes.
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