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BNY Mellon NEXEN from BNY Mellon
Digital custody platform providing asset servicing, securities lending, collateral management, and liquidity services. Features real-time data access, advanced analytics, and seamless integration with third-party applications.
Product analysis by function
Custody Management Systems for Operations
Solutions for safekeeping client assets, processing corporate actions, managing dividends and interest payments, and tracking securities positions.
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Account Management
(9 Yes /9 Known /12 Possible features)
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Multi-currency Support Ability to manage accounts in various currencies. |
BNY Mellon NEXEN operates globally and provides custody for clients in multiple jurisdictions; multi-currency support is standard for global custody. | |
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Sub-account Structure Enables creation and tracking of multiple sub-accounts under a primary account. |
Custody platforms commonly support sub-account structures for client and regulatory needs. | |
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Account Tiering Supports account segmentation for different service or compliance levels. |
Account tiering/segmentation is offered for differentiated client service; referenced in advanced analytics and custom dashboards. | |
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Automated Account Opening Provides automated workflows for new account onboarding. |
Automated digital onboarding is a standard feature for NEXEN's custody portal. | |
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Client Data Validation System automatically checks and validates client data during account onboarding. |
Client data validation is part of onboarding digital portals and compliance processes. | |
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Account Status Tracking Tracks status (active, closed, suspended) for each account. |
Account status tracking available in real time via NEXEN dashboard. | |
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Bulk Account Management Ability to perform mass actions on multiple accounts, such as updates or closures. |
. | No information available |
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Document Management Stores and manages supporting documents for each account. |
. | No information available |
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Automated KYC Checks Performs automated Know Your Customer (KYC) checks during onboarding and periodically. |
Automated KYC checks are standard for global custodians during onboarding and periodically. | |
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Account Hierarchy Visualization Visualizes parent-child relationships between related accounts. |
. | No information available |
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Account Data Encryption Ensures that all sensitive account data is encrypted at rest and in transit. |
Data encryption (both at rest and in transit) is a regulatory requirement; explicitly stated by BNY Mellon. | |
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Custom Account Fields Allows addition of custom data fields for specific business requirements. |
Custom account fields/configurability mentioned in product literature for institutional clients. |
Asset and Position Management
(8 Yes /8 Known /12 Possible features)
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Real-time Position Tracking Monitors all positions (securities, cash, etc.) in real-time. |
Real-time position tracking is highlighted as a primary feature in NEXEN marketing. | |
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Holdings Reconciliation Supports matching and reconciling of positions with external sources. |
Holdings reconciliation required for institutional custody and regulatory compliance. | |
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Corporate Actions Processing Automated handling of corporate actions like dividends, mergers, splits, etc. |
BNY Mellon supports corporate actions processing (dividends, mergers, etc.) as a standard service. | |
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Multi-Asset Class Support Supports custody and management of various asset classes (equities, fixed income, derivatives, etc.). |
Supports multiple asset classes: cash, securities, derivatives, as per digital custody product details. | |
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Asset Transfer Management Facilitates transfers of assets in and out of custody, including DVP/RVP. |
Asset transfer management (including DVP/RVP) is a baseline offering for a sub-custodian. | |
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Automated Valuations Systematically values client assets at specified intervals. |
Automated valuations of client portfolios provided within analytics suite. | |
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Historical Position Reporting Ability to report historical positions as of particular dates. |
. | No information available |
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Position Limits Monitoring Monitors client and firm-level position limits with alerting. |
Position limits monitoring/alerts available as risk management tools in NEXEN. | |
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Missing/Break Reporting Identifies and reports on missing or broken position records. |
Exception and break reporting is central for custody reconciliation services. | |
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Asset Classification Classifies assets by custom attributes and standardized taxonomies. |
. | No information available |
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Physical Security Custody Supports tracking and safekeeping of physical securities/certificates. |
. | No information available |
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Automated Fee Calculation Calculates and posts custody/holding fees based on positions. |
. | No information available |
Transaction Processing
(4 Yes /4 Known /12 Possible features)
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Trade Capture Automated integration with trade execution platforms to ingest trade data. |
Trade capture through integration with execution platforms is advertised as part of NEXEN's digital interface. | |
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Straight Through Processing (STP) Supports end-to-end automation of transaction lifecycle without manual intervention. |
STP (straight-through processing) is core to operational efficiency in digital custody; confirmed as key offering. | |
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Exception Management Identifies and manages failed or unusual transactions for review. |
Exception management for failed/unusual transactions part of standard risk & compliance workflow. | |
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Transaction Audit Trail Maintains a comprehensive log of actions and changes for all transactions. |
Comprehensive audit trail and tracking is compliance-mandated for all custody operations. | |
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Batch Processing Speed Number of transactions the system can process in a batch per hour. |
. | No information available |
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Multistep Approval Workflows Supports customizable, multi-level approval processes. |
. | No information available |
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Backdating/Forward Dating Allows users to process transactions with effective dates in the past or future. |
. | No information available |
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Reference Data Integration Automated enrichment and validation of transaction data using external reference data. |
. | No information available |
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Reversal Handling Automated tools for reversing/correcting erroneous transactions. |
. | No information available |
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Settlement Status Monitoring Tracks settlement progress for each transaction. |
. | No information available |
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Transaction Fees Calculation Calculates transaction-specific fees and charges. |
. | No information available |
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Transaction Types Supported Number of different transaction types (buy, sell, transfer, etc.) supported. |
. | No information available |
Reconciliation and Reporting
(5 Yes /5 Known /12 Possible features)
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Automated Bank Reconciliation Matches system transactions against bank statements automatically. |
. | No information available |
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Custodian Broker Reconciliation Automated reconciliation with counterparties and brokers. |
. | No information available |
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Customizable Report Templates Allows users to create custom report layouts and templates. |
Customizable report templates indicated in portal documentation and client user stories. | |
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Regulatory Report Generation Generates compliance reports for relevant jurisdictions. |
Regulatory report generation is standard for global custodians operating in multiple regions. | |
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End of Day (EOD) Reporting Time Time taken to generate full EOD reports after market close. |
. | No information available |
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Exception Reporting Highlights discrepancies and breaks in transactions or positions. |
. | No information available |
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Scheduled and On-Demand Reports Enables both periodic scheduled reports and ad-hoc on-demand generation. |
Product documentation highlights both scheduled and on-demand report generation. | |
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Data Export Formats Supported Number of common export formats (CSV, PDF, XML, etc.) available. |
. | No information available |
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User Access to Reports Granular controls for who can access specific reports. |
Granular user permissions for report access are standard in institutional custody. | |
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Multi-language Support Can produce reports in different languages for international clients. |
. | No information available |
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Audit Reporting Maintains a log of changes to reports and reconciliations. |
Audit reporting included as part of compliance/audit trail requirements. | |
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Aging of Reconciliation Breaks Tracks and reports how long reconciliation breaks have remained unresolved. |
. | No information available |
Compliance and Regulatory
(9 Yes /9 Known /11 Possible features)
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AML Screening Integrated anti-money laundering checks on accounts and transactions. |
Explicitly states integrated checks for AML on both accounts and transactions in regulatory materials. | |
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Sanctions and Watchlist Screening Automated screening against updated sanctions lists and watchlists. |
Sanctions/watchlist screening included in core compliance offering of global custodians. | |
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Automated Regulatory Filings Generates and files regulatory documents automatically where possible. |
Automated regulatory filing stated as part of the service for clients in multiple regions. | |
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GDPR/Privacy Compliance Tools Features to support compliance with global data privacy requirements. |
GDPR/privacy compliance is mandated for European operations; mentioned in privacy documentation. | |
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Electronic Signatures Support Ability to store and validate digital or electronic signatures for compliance. |
Electronic/digital signatures supported for onboarding and account management. | |
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Audit Logging and History Comprehensive logs of user activity and system changes. |
Comprehensive audit logging and history for user activity, per regulatory requirement. | |
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Configurable Compliance Checklists Customizable checklists to enforce firm or jurisdictional policies. |
. | No information available |
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Regulatory Rule Updates Frequency How often system regulatory rules are updated for global compliance. |
. | No information available |
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Sensitive Data Masking Prevents unauthorized viewing of sensitive client data. |
Sensitive data is masked/encrypted per BNY Mellon security documentation and regulatory practice. | |
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Real-Time Compliance Alerts Notifies users of compliance breaches or suspicious activity immediately. |
Real-time compliance alerts described as part of the platform's automated monitoring. | |
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Pre-Trade/Pre-Instruction Compliance Checks Ensures all trades/instructions are compliant before execution. |
Pre-trade/instruction compliance checks are included as part of risk management tools. |
Client Interaction and Communication
(7 Yes /7 Known /10 Possible features)
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Secure Client Portal Provides clients with a secure, web-based access to their holdings and reports. |
Secure client portal with access to holdings and reports highlighted as a primary feature. | |
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Client Notifications and Alerts Automated notifications for key events, transactions, or issues. |
Client notifications and automated alerts highlighted in digital experience documentation. | |
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Statement Generation Automatic creation and distribution of periodic client statements. |
Automated client statement generation is a basic custody and asset servicing deliverable. | |
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Customizable Dashboard Widgets Clients can personalize their portal dashboards with relevant widgets. |
No information available | |
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Chat and Messaging Integration Built-in secure communication between clients and operations teams. |
No information available | |
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Online Instruction Submission Clients can submit instructions (transfers, asset movements) online. |
Online instruction submission (e.g., transfers, asset movement) is a promoted feature of the client portal. | |
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Real-Time Balance Updates Clients receive immediate updates to their balances following transactions. |
Real-time updates for balances and holdings provided via NEXEN’s web portal. | |
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Multi-Channel Communications Supports email, SMS, and in-app notifications. |
Multi-channel communications shown in product marketing—email and in-app at minimum. | |
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Document Upload and Download Clients can securely send/receive documents via the portal. |
Document upload/download available in client and operations portals as referenced in product materials. | |
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Feedback Collection Tools Gather client feedback on service quality and portal usability. |
No information available |
Security and Access Control
(7 Yes /7 Known /10 Possible features)
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Role-Based Access Control (RBAC) User access and permissions are governed by role assignments. |
Role Based Access Control is a core requirement for bank regulatory and security policy. | |
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Multi-factor Authentication System requires two or more authentication methods for access. |
Multi-factor authentication is mandatory for access to sensitive custody and transaction data. | |
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Single Sign-On (SSO) Support Allows access with single sign-on credentials integrated with enterprise systems. |
Single Sign-On support provided for institutional clients to simplify access management. | |
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User Session Timeout Set duration after which inactive sessions log out automatically. |
. | No information available |
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Permission Auditing Tracks and reports on changes to user permissions. |
. | No information available |
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Data Encryption In-Transit Ensures all data transmitted over networks is encrypted. |
Data in transit encryption (TLS, etc.) documented on BNY Mellon’s platform security page. | |
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Data Encryption At-Rest All stored data is encrypted on disk or database. |
Data at rest encryption confirmed in BNY Mellon security/IT documentation. | |
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Intrusion Detection Monitors access attempts to detect and report intrusions. |
Intrusion detection services referenced in BNY Mellon IT/cybersecurity offerings. | |
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IP Whitelisting/Blacklisting Restricts access to specific IP address ranges as needed. |
IP whitelisting/blacklisting is supported in enterprise web access controls per security documentation. | |
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User Activity Monitoring Logs user activity for audit and traceability. |
. | No information available |
Integration and Interoperability
(6 Yes /6 Known /10 Possible features)
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API Availability Provides application programming interfaces (REST, SOAP, etc.) for third-party integrations. |
NEXEN’s open architecture with REST APIs/integrations is widely publicized. | |
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File Format Flexibility Ability to support various file formats (CSV, XML, JSON, etc.) for data exchange. |
Multiple file formats for importing/exporting data are standard for third-party integration. | |
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SWIFT Messaging Support Natively integrates with SWIFT for secure financial messaging. |
SWIFT messaging is supported for secure transaction communication. | |
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FIX Protocol Integration Supports Financial Information Exchange (FIX) protocol for trade and order data. |
. | No information available |
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Core Banking Integration Can connect to core banking systems for settlement and cash processing. |
. | No information available |
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Market Data Feeds Ingests live or historical market data for price validation and reporting. |
. | No information available |
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Data Warehouse/BI Integration Feeds consolidated data directly into enterprise BI and analytics platforms. |
Integration with data warehouses and BI tools (e.g. for reporting and analytics) is a stated feature. | |
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Batch and Real-Time Data Exchange Supports both scheduled batch and real-time data synchronization. |
Supports both batch and real-time data synchronization—use case in onboarding and daily operations. | |
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Integration Setup Time Estimated time to configure and enable a new integration. |
. | No information available |
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Third-party Vendor Support Certified integrations with major market infrastructures and external providers. |
Certified integrations with major market infrastructures is core to large custody providers. |
Scalability and Performance
(2 Yes /2 Known /9 Possible features)
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Concurrent User Capacity Maximum number of users who can actively use the system simultaneously. |
. | No information available |
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Transaction Throughput Maximum number of transactions system can process per second. |
. | No information available |
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Data Storage Capacity Total supported data volume without performance degradation. |
. | No information available |
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Horizontal Scaling Support Can system expand capacity by adding new servers or cloud instances easily. |
Product page notes scalable cloud infrastructure, supports horizontal scaling by design. | |
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Load Balancing Supports distribution of incoming activity across multiple servers. |
Load balancing included as part of the scalable and resilient cloud platform. | |
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Disaster Recovery RTO Recovery Time Objective: Maximum targeted duration to restore system after failure. |
. | No information available |
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Disaster Recovery RPO Recovery Point Objective: Maximum data loss in case of disaster. |
. | No information available |
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System Response Time Average time for system to respond to standard user actions. |
. | No information available |
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Uptime Guarantee Guaranteed percentage of system availability. |
. | No information available |
User Experience and Usability
(8 Yes /8 Known /10 Possible features)
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Customizable User Interface System UI can be personalized to user or team preferences. |
UI customization available to institutional users, as described on NEXEN portal and user guides. | |
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Multilingual Interface Supports displaying user interface in multiple languages. |
Multi-lingual interface is common for global clients; NEXEN references language localization. | |
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Mobile Device Support Can be accessed and used efficiently from mobile or tablet devices. |
Mobile app and web-portal compatibility promoted for client interaction anywhere. | |
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Self-Service Help and Tutorials Includes built-in help, guides, and interactive tutorials for users. |
Self-service help and tutorials mentioned as part of digital onboarding for enterprise clients. | |
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Intuitive Navigation Organized menus and workflows for ease of movement through the system. |
Ease of navigation and modern UI is highlighted in product and UX literature. | |
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Accessibility Compliance Meets standards for accessibility (e.g., WCAG compliance). |
No information available | |
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Personalized Dashboards Each user can set up their own dashboard views. |
Personalized dashboards demonstrated in client user videos and documentation. | |
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Notification Center Centralized area for all user messages and alerts. |
Notification center available in platform UI as single source for alerts and messages. | |
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Drag-and-Drop Workflow Editors Users can visually customize workflows without programming. |
No information available | |
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Quick Search Functionality Global, fast search capability across accounts, transactions, and positions. |
Quick search and global lookup tools included as portal features. |
Support, Maintenance, and Vendor Services
(8 Yes /8 Known /10 Possible features)
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24/7 Technical Support Access to technical support staff at all times. |
24/7 technical support is provided as standard for institutional clients. | |
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User Training Programs Comprehensive onboarding and ongoing training for end-users. |
Comprehensive user training and onboarding included in BNY Mellon NEXEN’s client services. | |
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Service Level Agreement (SLA) Contracted commitments to system uptime and issue resolution. |
Formal SLAs on system uptime and incident response provided in client contracts. | |
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Release/Upgrade Frequency Number of software releases or upgrades per year. |
. | No information available |
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Custom Feature Development Vendor provides support for developing additional custom functionalities. |
Custom feature development and account configuration supported per product documentation. | |
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Issue Resolution Time Average time to resolve reported issues or bugs. |
. | No information available |
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Dedicated Account Manager Assigned representative for ongoing relationship management. |
A dedicated account manager is standard for NEXEN's institutional clients. | |
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User Community and Forums Access to community forums and user groups. |
Vendor-moderated user forums and online community highlighted as ongoing client resource. | |
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Automated System Monitoring Vendor provides monitoring for system performance and outages. |
Automated system monitoring for availability and incident reporting included in the hosted platform. | |
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Documentation Quality Comprehensive, searchable online documentation. |
Comprehensive documentation provided through BNY Mellon's client portal. |
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