BNY Mellon and CIBC Mellon merge securities lending activities

BNY Mellon and CIBC Mellon are integrating their respective securities lending desks.

The move establishes BNY Mellon’s securities finance business as one of the world’s largest providers of securities lending services, with trading offices in New York, Pittsburgh, Toronto, London and Hong Kong.

Part of BNY Mellon’s global collateral services division, the securities finance business encompasses more than US$2.5 trillion in lendable assets and outstanding loan balances of approximately US$250 billion. CIBC Mellon’s program represents more than 120 clients with approximately C$500 billion in lendable assets and C$60 billion on loan, making it the largest securities lending program in Canada.