BNY Mellon launches Universal FX, a foreign exchange platform

BNY Mellon announced the launch of Universal FX, a new foreign exchange, or 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. 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.