BNY Mellon Unveils New FX Platform to Streamline Portfolio Management

<p>BNY Mellon, America's oldest bank, has introduced a
new platform for foreign exchange (FX) management. This offering addresses the
growing need for clients to manage their portfolios while accessing
market-leading price transparency efficiently, the company said. </p><p>Dubbed Universal FX, the new platform caters to a
wide range of market segments, from investment managers to wealth managers,
offering a solution to the transition of the industry to T+1 settlement.</p><p>Bridging the Gap in Portfolio Management</p><p>Jason Vitale, the Head of Global Markets Trading at
<a href="https://www.financemagnates.com/tag/bny-mellon/" target="_blank" rel="follow">BNY Mellon</a>, stated: "Clients often have fragmented portfolios, causing
friction, lack of transparency and inconsistency while accessing services
across pricing, execution, and post-trade."</p><p>"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 a 360-degree insight and providing a seamless
experience across the entire <a href="https://www.financemagnates.com/terms/e/execution/">execution</a> process. This also comes at a unique
moment as clients seek streamlined solutions to adjust to the T+1 settlement
cycle."</p><p>Universal FX provides access to currency execution
in both developed and emerging markets, enhancing the <a href="https://www.financemagnates.com/tag/forex/" target="_blank" rel="follow">FX</a>
experience for clients on a global scale. It enables clients to manage their
entire portfolio, regardless of where they hold their assets or execute trades.</p><p>BNY Mellon's Expanding Reach</p><p>Universal FX doesn't operate in isolation. It builds
upon the foundation of BNY Mellon's OneFX suite, a set of solutions and banking
capabilities encompassing all aspects of FX trading, hedging, and
<a href="https://www.financemagnates.com/terms/c/cross-border-payments/" target="_blank" rel="follow">cross-border payment</a> activities. </p><p>Founded in 1784, BNY Mellon is America's oldest bank
that was the first to be listed on the New York Stock Exchange. As of September
30, 2023, BNY Mellon oversaw $45.7 trillion in assets under custody and
administration and managed $1.8 trillion in assets. </p><p>Recently, the bank introduced a white labeling
service to its LiquidityDirect platform. This service enables financial
institutions to access <a href="https://www.financemagnates.com/terms/l/liquidity/">liquidity</a> management solutions for their clients.
According to a statement released by the bank, the first institution to embrace this
offering was Morgan Stanley Investment Management. </p><p>Currently, LiquidityDirect facilitates nearly $15
trillion in annual transaction flow for over 6,000 of the world's largest
institutional investors, presenting various solutions tailored to address dynamic investment and risk requirements.</p>

This article was written by Jared Kirui at www.financemagnates.com.