BNY Mellon's Liquidity Directions
BNY Mellon Liquidity DIRECT, the largest of the online money market mutual fund trading "portals," recently posted the First Quarter 2010 edition of its quarterly "Liquidity Directions newsletter. The new publication contains brief articles on: the company's new Margin DIRECT, an "an innovative liquidity tool that enables institutional investors to safekeep cash and securities in counterparty transactions;" an announcement "BNY Mellon Launches Liquidity Services in Asia-Pacific;" a piece on the "Liquidity DIRECT Investment Portal Revamp;" and a brief by our Peter Crane called "Money Fund Year in Review: Near-Zero Yields, Major Outflows in 2009." In the lead piece, the newsletter says, "BNY Mellon developed Margin DIRECT by combining two of its industry-leading services -- Custody and MoneyFunds DIRECT -- into a single comprehensive solution that provides safekeeping for posted margin balances away from an institutional investor's counterparties. Those balances are then directed for investment to a wide range of money market funds managed by the most venerable names in the investment industry. For institutional investors, this can result in a significant reduction in risk exposure and an opportunity to earn additional income." The newsletter also quotes Jonathan Spirgel, Head of Liquidity Services at BNY Mellon, "Businesses and institutions across the Asia-Pacific could benefit significantly from Liquidity DIRECT. No other cash management portal offers such a wide range of opportunities." In other news, see Kiplinger's "New Rules May Make Money Market Funds Safer".
