BNY Mellon expands Custody FX offering with FX Algos Capabilities
08 October 2021 US
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BNY Mellon announces it will be expanding its Custody FX offering to allow clients to customise how they trade currencies, among other improvements, through the firm.
The FX trading programme will add new trading capabilities, pivoting from a custody-focused service model to leverage a variety of client types for their rules-based, end-to-end transaction needs.
Among the new capabilities, FX trading programme clients can now achieve improved Large Order Execution via access to algorithmic execution methods for orders over a certain size.
Incorporating these capabilities into the programme will enable users to design elements of their standing orders, as well as to deliver further enhancements including upgraded trade micro-timestamping, which facilitates enhanced transaction cost analysis (TCA) and transparency for clients, along with customisable rules-based options enabling users to tailor their FX strategies. The service will also offer enhanced execution capabilities across APAC markets, including adding expanded benchmark execution.
Jason Vitale, global head of FX at BNY Mellon, comments: "These enhancements are the result of listening to our clients who told us loud and clear that they want to be more empowered to customise their FX trading programme parameters, trade in larger sizes, enjoy consistent pricing and attain full visibility into how their instructions are being carried out.”
The FX trading programme will add new trading capabilities, pivoting from a custody-focused service model to leverage a variety of client types for their rules-based, end-to-end transaction needs.
Among the new capabilities, FX trading programme clients can now achieve improved Large Order Execution via access to algorithmic execution methods for orders over a certain size.
Incorporating these capabilities into the programme will enable users to design elements of their standing orders, as well as to deliver further enhancements including upgraded trade micro-timestamping, which facilitates enhanced transaction cost analysis (TCA) and transparency for clients, along with customisable rules-based options enabling users to tailor their FX strategies. The service will also offer enhanced execution capabilities across APAC markets, including adding expanded benchmark execution.
Jason Vitale, global head of FX at BNY Mellon, comments: "These enhancements are the result of listening to our clients who told us loud and clear that they want to be more empowered to customise their FX trading programme parameters, trade in larger sizes, enjoy consistent pricing and attain full visibility into how their instructions are being carried out.”
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