NEW YORK, Oct. 7, 2021 /PRNewswire/ -- BNY Mellon is
expanding its Custody FX offering, adding new trading capabilities
and pivoting from a primarily custody-focused service model into a
transparent open architecture that can be leveraged by a variety of
client types for their rules-based, end-to-end transaction
needs.
Effective immediately, clients in our FX trading programs can
customize how they trade currencies through BNY Mellon, among other
new improvements introduced to the firm's Custody FX programs to
increase transparency and provide more flexibility for
participants.
BNY Mellon's suite of new enhancements delivers more autonomy
for users to transact in the manner in which they wish. Among the
new capabilities, FX trading program clients can now achieve
improved Large Order Execution via access to algorithmic execution
methods for orders over a certain size.
The incorporation of these new capabilities into the program
will enable users to design elements of their standing orders as
well as deliver further enhancements including:
- Improved Transparency – Upgraded trade
micro-timestamping facilitates enhanced transaction cost analysis
(TCA) for clients, providing visibility into how their instructions
are being fulfilled and executed.
- Expanded Portfolio Customization – Clients have
more customizable rules-based options to tailor their FX
strategies.
- Upgraded Asia Execution Capabilities – enhanced offering
across APAC markets, including adding expanded benchmark execution
giving clients more transparency while broadening the client
coverage team throughout the region.
"These enhancements are the result of listening to our clients
who told us loud and clear that they want to be more empowered to
customize their FX trading program parameters, trade in larger
sizes, enjoy consistent pricing and attain full visibility into how
their instructions are being carried out," says Jason Vitale, Global Head of FX at BNY Mellon.
"These improvements place clients firmly in control."
Today's announcement follows the July
2020 launch of an API FX solution that reduced confirmation
times for restricted emerging market currencies from hours to
seconds. In June 2020, BNY Mellon
expanded its FX capabilities in Singapore with the launch of an onshore FX
pricing and trading engine in the nation, bolstering its FX
capabilities across the APAC region.
ABOUT BNY MELLON
BNY Mellon is a global investments
company dedicated to helping its clients manage and service their
financial assets throughout the investment lifecycle. Whether
providing financial services for institutions, corporations or
individual investors, BNY Mellon delivers informed investment and
wealth management and investment services in 35 countries. As of
June 30, 2021, BNY Mellon had
$45.0 trillion in assets under
custody and/or administration, and $2.3
trillion in assets under management. BNY Mellon can act as a
single point of contact for clients looking to create, trade, hold,
manage, service, distribute or restructure investments. BNY Mellon
is the corporate brand of The Bank of New York Mellon Corporation
(NYSE: BK). Additional information is available on
www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our
newsroom at www.bnymellon.com/newsroom for the latest company
news.
Contact:
Peter Madigan
peter.madigan@bnymellon.com
+1 212 815 2308
Nina Truman
nina.truman@bnymellon.com
+1 212 815 2006
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SOURCE BNY Mellon