HazelTree to offer collateral services to Ovata Capital
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HazelTree to offer collateral services to Ovata Capital 29 January 2018New York Reporter: Jenna Lomax
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HazelTree has partnered with Ovata Capital Management to deliver financing, collateral and custody services to the Hong Kong-based hedge fund manager.
The treasury solutions provider will assist Ovata in centralising the fund鈥檚 cash management function.
Under the mandate, the hedge fund manager gains access to HazelTree Cash Manager, which is integrated with BNY Mellon鈥檚 multi-currency platform, know as Liquidity Direct.
The investment platform enables clients to use BNY Mellon鈥檚 full suite of cash, treasury, collateral, financing, trading and custody services.
The combined BNY Mellon-Hazeltree solution is promised to assist the hedge fund鈥檚 streamline cash management processes and reduce counterparty and operational risks.
Nicholas Bloom, Ovata Capital COO, said: 鈥淗azeltree provides us with an efficient centralised systematic approach to optimise our treasury function across cash and margin and eliminates the need to use multiple counterparty portals.鈥�
Jonathan Spirgel, head of global liquidity and segregation services at BNY Mellon Markets, added: 鈥淭he combined solution will help Ovata streamline their cash management processes as well as enable state-of-the-art robust investment capabilities and controls around managing balances.鈥�
Sameer Shalaby, president and CEO of Hazeltree, said: 鈥淲e are excited to be providing Ovata with an effective treasury solution to centralise its cash management function.鈥�
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