The Bank of New York Mellon chosen as Japanese tri-party agent

"We expect rapid growth in the tri-party collateral management arena in Japan, as broker-dealers and investors increasingly recognize the economic and risk management benefits of the tri-party structure.

"As our business grows, we will continue to expand our team of local experts to develop solutions for our clients' evolving needs," said Art Certosimo, executive vice president and head of broker-dealer services at The Bank of New York Mellon.

"We are gratified to be among pioneers Goldman Sachs and SMBC as we help develop and expand the Japanese tri-party marketplace."

The Bank of New York Mellon is the leading provider of tri-party collateral management services, servicing more than $1.5 trillion in tri-party balances worldwide.