BNY Mellon (NYSE:BK), the global banking and financial services company, has launched a white-labeling liquidity management solution on its LiquidityDirect platform. Morgan Stanley Investment Management (MSIM) is set to be the first user of this new service. This information was announced today, with George Maganas, Head of Global Liquidity Services (NASDAQ:LQDT) at BNY Mellon, emphasizing the importance of this partnership.
The LiquidityDirect platform, which processes $15 trillion in transactions annually for over 6,000 institutional investors worldwide, will facilitate this service. The collaboration aims to enhance the user experience for end clients and expand access to financial institutions.
MSIM will leverage its $353 billion in managed assets and strategic cash management solutions, including a money market investment portal. This collaboration with BNY Mellon's robust platform is expected to set new industry standards. The partnership is designed to offer a blend of technology, connectivity, and client service to treasury groups globally.
As of Q3 2023, BNY Mellon reported managing $45.7 trillion in assets under custody/administration and $1.8 trillion in assets under management. Founded in 1784, BNY Mellon has a long-standing history in the financial services sector. On the other hand, MSIM employs over 1,300 investment professionals globally and manages $1.4 trillion in assets.
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