LONDON, Oct. 27 /PRNewswire-FirstCall/ -- BNY Mellon Asset Servicing, the global leader in securities servicing, is taking a leading role in a new pilot programme being launched as part of an industry initiative to solve industry challenges with rporate actions processing.

The latest phase in the "Issuer to Investor: rporate Actions" pilot programme will enable financial institutions using the SWIFT work to automatically receive information about rporate action announcements – in ISO 20022 formats – from the Depository Trust & Clearing rporation (DT). The pilot is expected to mmence in early 2011 and will run until late in the year.

Chris Church, chief executive - Americas and global head of securities at SWIFT, said: "Strong industry support and early mmitment from financial institutions like BNY Mellon will help ensure the suess of ISO 20022 adoption for rporate actions. BNY Mellon have been involved from the beginning in helping shape the message suite and provide input and advise on the pilot messaging solution. We look forward to their ntinuing mmitment."

In addition, BNY Mellon is one of the founding members of this industry initiative, which was launched last year by DT, SWIFT and the XBRL (eXtensible Business Reporting Language) U.S. nsortium. Issuer to Investor: rporate Actions seeks to improve rporate actions processing by enuraging issuers to tag rporate actions announcements – prospectuses, press releases, regulatory filings – using XBRL data tagging technology.

The initiative also enurages intermediaries, such as the DT, to disseminate information about rporate actions announcements seamlessly and without manipulation via ISO 20022 messages.

Tim Keaney, chief executive officer of BNY Mellon Asset Servicing, said: "The approach taken by DT, SWIFT and XBRL US is to be applauded.  rporate actions processing is a perennial and expensive problem, and one that the industry has yet to resolve. By engaging key stakeholders from across the industry the group has taken an important step forward in establishing new levels of automation and standardisation for rporate actions processing. This in turn will lead to rced sts and greater efficiencies for the industry."

Patrick Kirby, DT managing director, asset services, noted: "DT is mmitted to improving the automation and straight-through processing of rporate actions in the U.S. and elsewhere.  BNY Mellon has demonstrated its leadership in this effort by being an early adopter of ISO 20022 and supporting the efforts to have issuers move to using XBRL tagging.  We look forward to working with them on the ISO 20022 pilot as we ntinue our efforts to fundamentally change how rporate actions are announced and processed."

Notes to editors:

BNY Mellon Asset Servicing offers clients worldwide a broad spectrum of specialized asset servicing capabilities, including custody and fund services, securities lending, performance and analytics, and execution services.

BNY Mellon is a global financial services mpany focused on helping clients manage and service their financial assets, operating in 36 untries and serving more than 100 markets.  BNY Mellon is a leading provider of financial services for institutions, rporations and high--worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team.  It has $24.4 trillion in assets under custody and administration and $1.14 trillion in assets under management, services $12.0 trillion in outstanding debt and processes global payments averaging $1.6 trillion per day.  BNY Mellon is the rporate brand of The Bank of New York Mellon rporation.  Additional information is available at .

SOURCE BNY Mellon Asset Servicing