BNY Mellon launched Structured Credit Connection, an anonymous real-time auction marketplace where buyers and sellers can transact, the firm announced today.
Users of Structured Credit Connection will have access to collateral and loan level data, as well as integrated analytical systems meant to increase market confidence in structured credit securities, including those with less liquidity, said the firm.
Clients can also use the service to perform high-level portfolio analysis and to monitor overall market activity. BNY Mellon Capital Markets, a Securities and Exchange Commission registered broker-dealer, will provide trading and execution services.
“Currently, there is no single market for buyers and sellers that provides reliable and transparent information and loan level data for fixed income securities,” said Karen Peetz, BNY Mellon’s CEO of financial markets and treasury services.
“Structured Credit Connection unites participants anonymously in a single marketplace and provides them with access to data and tools they can use to evaluate their securities. This will greatly enhance the clarity around the securities being traded and participants’ confidence in the overall auction process,” Peetz added.
BNY Mellon is a global financial services company based in New York.