Overview of Foreign Exchange Services
Many of BNY Mellon's clients — such as pension funds, large corporations and global financial institutions — have a variety of options available to them to execute foreign exchange (FX) transactions. For larger transactions, clients can trade after receiving multiple market quotes via the phone or internet. This "direct negotiation" approach requires clients to identify, monitor, negotiate, risk manage and settle trades. Clients also can choose "standing instruction" programs — which have been the focus of litigation and news reports — that are typically used for smaller or difficult-to-execute transactions.
This website provides you with the facts regarding BNY Mellon's standing instruction services.