BNY Mellon and Google to Work on Eliminating Settlement Fails in US Treasury Market

BNY Mellon has partnered with Google Cloud on a data analytics model to help traders predict billions of dollars’ worth of daily settlement failures in the US treasury market, according to a story in The Trade News. The initiative will see BNY Mellon leverage Google Cloud data analytics, artificial intelligence (AI) and machine learning technologies to develop new collateral management and liquidity solutions, helping clients to achieve significant capital savings. BNY Mellon predicts its new initiative will help traders predict approximately 40% of settlement failures in Fed-eligible securities, with a roughly 90% accuracy.