BNY Mellon launches FX options 28 June 2018New York Reporter: Maddie Saghir
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BNY Mellon is live with foreign exchange (FX) options, which are currently only available to clients in the Americas.
Options represent the next step as BNY Mellon builds a currency solutions platform following plans of launching an FX prime brokerage service.
The FX options enable clients to better hedge currency exposure and express their views on the future direction of FX markets.
Additionally, BNY Mellon clients now have access to a full-service currency trading desk, offering spot, forwards, non-deliverable forwards as well as options.
This offering complements BNY Mellon’s range of border FX services including FX custody, payments, and hedging.
Adam Vos, global head of FX at BNY Mellon Markets, commented: “Options is a must-have as we transition into a full-service FX franchise that can meet all of our clients’ end-to-end trading, hedging, payments and administrative requirements.”
Vos added: “We have further enhancements to come later in 2018 as we continue to retool our FX capabilities to better equip clients for the challenges of today’s currency markets.”
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