BNY Mellon announced on Monday it has expanded its short-term investment platform, LiquidityDirect. The platform now offers access to mutual funds, enhanced Focused Investing options, interest-bearing demand deposit accounts and sponsored cleared repo Sweep capabilities.
According to the official announcement, the new expansion is driven by client demand. The new offering helps companies maximize liquidity, manage risks and improve performance.
Furthermore, the platform has integrated with SAP’s Treasury Management workstation, creating efficiencies for self-directed cash management, payments and investments. The newly announced enhancements build on LiquidityDirect’s existing platform integration with several other treasury workstations and cash management systems, such as Indus Valley Partners, G Treasury and Hazeltree.
Adam Vos, CEO of BNY Mellon Markets & Execution Services, said:
Throughout market cycles, the global demand for liquidity remains paramount for all market participants. A critical component to meeting clients’ needs is providing integrated access from a single source to an array of liquidity solutions. We have built—and now significantly enhanced—our LiquidityDirect platform to offer clients exactly these types of innovative solutions, to meet their dynamic investment and risk criteria as they execute on their liquidity strategy.
Additionally, LuidityDirect provides access to the BOLD (Black Opportunity for Learning and Development) Share Class on Dreyfus Government Cash Management. The company detailed that since its launch, assets in BOLD Share Class have increased eight times and are now estimated at $4.8 billion as of 12 May 2023.
LiquidityDirect has also strengthened its Focused Investing offering with the addition of new investment options, such as share classes offered through veteran-, women- and minority-owned broker-dealers, as well as Minority Depository Institutions.
George Maganas, Global Head of Liquidity Services, BNY Mellon, said:
Our clients have conveyed a need to streamline management of their short-term investments – and we listened. Through the expansion of our LiquidityDirect product suite, we are providing them with a comprehensive set of short-term investment options through a single point-of-access. We will continue evolving the platform to enhance our clients’ experience by incorporating the latest market developments, investment options with seamless integration and data management they demand.
