New platform helps clients manage and centralize their portfolios, regardless of where they custody, prime broker or settle trades
Builds on OneFX suite of solutions and banking capabilities for all FX trading, hedging and cross-border payment activities
NEW YORK, Oct. 25, 2023 /PRNewswire/ -- BNY Mellon (NYSE: BK) announced today the launch of Universal FX, a new foreign exchange (FX) platform that meets client needs to manage execution across their entire portfolio and access market-leading price transparency. Universal FX supports BNY Mellon clients across all market segments, such as investment managers, corporates, hedge funds and wealth managers, as well as helping them navigate the industry transition to T+1 settlement.
Today, the investment management industry often manages portfolios across several providers resulting in an inconsistent FX execution experience. Through Universal FX, clients can now manage their whole portfolio, irrespective of where they custody, prime broker or settle trades. The solution provides access to Developed Market and Emerging Market currency execution, enhancing the FX experience for clients globally.
"Clients often have fragmented portfolios, causing friction, lack of transparency and inconsistency while accessing services across pricing, execution and post-trade," said Jason Vitale, Head of Global Markets Trading, BNY Mellon. "With the launch of Universal FX and our existing OneFX product suite, our clients can now control and customize their portfolio in one place – gaining 360-degree insight, providing a seamless experience across the entire execution process. This also comes at a unique moment as clients seek streamlined solutions to adjust to the T+1 settlement cycle."
This new offering builds on BNY Mellon's OneFX suite of innovative solutions and banking capabilities for all FX trading, FX hedging and cross-border payment activities. OneFX is designed to seamlessly connect the entire FX spectrum, ensuring clients around the world have access to the latest new features and functionalities from BNY Mellon as they become available.
For more details on Universal FX and the OneFX portfolio of solutions at BNY Mellon, visit https://certainty-bnymellon.com/FX.html.
Established in 1784, BNY Mellon is America's oldest bank and the first company listed on the New York Stock Exchange (NYSE: BK). Today, BNY Mellon powers capital markets around the world through comprehensive solutions that help clients manage and service their financial assets throughout the investment life cycle. BNY Mellon had $45.7 trillion in assets under custody and/or administration and $1.8 trillion in assets under management as of Sept. 30, 2023. BNY Mellon has been named among Fortune's World's Most Admired Companies and Fast Company's Best Workplaces for Innovators. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. Additional information is available on www.bnymellon.com. Follow us on LinkedIn or visit our Newsroom for the latest company news.
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SOURCE BNY Mellon