BNY A Step Closer To Collateral Management System Rollout.

The Bank of New York's AccessEdge collateral management system is live with internal clients, and will go live with external clients by the end of November 2003. The system is a real-time reporting system for collateral management. AccessEdge allows customers to view the tri-party transactions they have done and the collateral pledged to them in a fashion that is similar to a confirmation tool. The benefit of the system is that it allows firms to keep track of pledged collateral, and thus increase the efficiency with which dealers can fill transactions through the course of the day.