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The Bank of New York Mellon was named the best overall tri-party repo provider in the 2008 ISF annual repo survey.

Recognition by third-party sources continue as The Bank of New York Mellon was named the best overall tri-party repo provider in the 2008 International Securities Finance (ISF) annual repo survey. This is the second consecutive year that ISF, a leading publication for the securities financing and repo, prime brokerage and hedge fund industries, has given the company this award.

Art Certosimo, Head of Broker-Dealer and Alternative Investment Services, said: "This survey, which represents a snapshot of what our clients think of us, underscores the success we are having by focusing on the areas that matter most to the broker-dealer and institutional investor community. Our dedication to client service, coupled with our proven global expertise in collateral management, continues to be a winning combination for our organization."

The Bank of New York Mellon, which is a leading provider of tri-party collateral management services and services more than $1.8 trillion in tri-party balances worldwide, was ranked first or second in 12 of the 14 survey areas.

The company was rated the best performer in seven key servicing categories for collateralized stock loan and repo transactions, including reporting capabilities, timeliness of settlement, quality of static data, quality of client service, access to counterparties, breadth of coverage and dividend collection.

ISF also commended the company's expertise in timeliness and accuracy of margin calls, level of Straight-Through Processing (STP) offered, handling of fails and substitution capability.