Products January 6, 2002
Mellon Launches Sec Lending Bid Site
June 13, 2001 (PLANSPONSOR.com) - Mellon Global
Securities Lending has launched Mellon I-Bid, a Web-based
auction technology, as it becomes the latest and the first
financial services provider to auction individual issues of
securities online.
Reported by Nevin E. Adams
The proprietary service enables Mellon to auction and award specific issues of US and non-US equities via the Internet. Having made its commercial debut by way of successful online auctions during May, Mellon I-Bid allows borrowers to submit bids interactively using private, secure technology.
Mellon I-Bid was developed in collaboration with the Grant Street Group, a Pittsburgh-based provider of financial e-commerce services.