BNY Mellon Introduces New FX Platform Universal FX

Less than two days after launching a new white label service product​, BNY Mellon yesterday (October 25) announced that it has launched Universal FX, a new FX platform that meets the needs of clients to manage execution across their entire portfolio, while also providing them with market-leading price transparency.

Built on the bank's OneFX suite of innovative solutions and banking capabilities for all FX trading, FX hedging and cross-border payment activities, 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.

Currently, the investment management industry often deals with the challenge of managing portfolios across multiple providers, leading to an inconsistent FX execution experience. Universal FX allows clients to manage their entire portfolio, regardless of where they hold their assets or execute trades.

Jason Vitale, Head of Global Markets Trading at BNY Mellon, said: "Clients often have fragmented portfolios, causing friction, lack of transparency and inconsistency while accessing services across pricing, execution and post-trade. 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."