Quicker settlements in sight as loan trustee ditches fax machines

fax machine, meme
By Will Caiger-Smith
18 Mar 2015

Participants in the leveraged loan and CLO markets could begin to see an improvement in “woeful” settlement times as new technology replaces inefficient and outdated processes.

BNY Mellon’s Corporate Trust business has just introduced a service enabling investors trading bank loans to automatically send documentation to BNY Mellon through secure online channels.

The “Connect” service, which will launch in early April, spells the end of an outdated system that required loan trade documents, like ...

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