The platform supports clients across various market segments, including investment managers, corporates, hedge funds and wealth managers, explained BNY Mellon. It also assists clients in adapting to the industry transition to T+1 settlement.
Universal FX expands on BNY Mellon's existing suite of OneFX solutions and banking capabilities, which cover all FX trading, hedging and cross-border payment activities. Clients can manage their portfolios, regardless of where they custody, prime broker or settle trades.
The platform offers access to developed market and emerging market currency execution, thereby enhancing the FX experience for clients worldwide.
Jason Vitale, head of global markets trading, BNY Mellon, said: "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."
