BNY Mellon (NYSE:BK) has recently launched Universal FX, a comprehensive platform designed to centralize client portfolios and enhance price transparency in forex trading. The platform caters to a diverse clientele, including investment managers, corporates, hedge funds, and wealth managers.
Universal FX provides a seamless transition to the T+1 settlement cycle and offers 360-degree insight for customizable portfolio management. It supports clients by facilitating access to Developed and Emerging Market currency execution, regardless of trade custody, prime, or settlement locations.
Jason Vitale, Head of Global Markets Trading at BNY Mellon, emphasized that Universal FX ensures portfolio control and customization with comprehensive insight into the entire execution process. He highlighted that the creation of the platform was necessitated by fragmented portfolios leading to transparency and consistency problems when accessing pricing, execution, and post-trade services.
Universal FX is an integral part of BNY Mellon's OneFX suite. It delivers streamlined solutions across the entire forex trading process, strengthening capabilities for all forex trading, hedging, and cross-border payments. The addition of Universal FX to the OneFX suite underscores BNY Mellon's commitment to providing robust and efficient solutions for its clients in the forex market.
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