BNY Mellon Offers Algo Trading For its Custody FX Clients

October 07, 2021 - BNY Mellon has announced that it is expanding its Custody FX offering to provide more transparency and flexibility for participants, in particular offering clients improved Large Order Execution via access to algorithmic execution methods for orders over a certain size.

The incorporation of these new capabilities into the program will enable users to design elements of their standing orders as well as deliver further enhancements including:

Improved Transparency – Upgraded trade micro-timestamping facilitates enhanced transaction cost analysis (TCA) for clients, providing visibility into how their instructions are being fulfilled and executed.

Expanded Portfolio Customisation – Clients have more customisable rules-based options to tailor their FX strategies.

Upgraded Asia Execution Capabilities – enhanced offering across APAC markets, including adding expanded benchmark execution giving clients more transparency while broadening the client coverage team throughout the region.

"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 program parameters, trade in larger sizes, enjoy consistent pricing and attain full visibility into how their instructions are being carried out," says Jason Vitale, Global Head of FX at BNY Mellon. "These improvements place clients firmly in control."

Today's announcement follows the July 2020 launch of an API FX solution that reduced confirmation times for restricted emerging market currencies from hours to seconds. In June 2020, BNY Mellon expanded its FX capabilities in Singapore with the launch of an onshore FX pricing and trading engine in the nation, bolstering its FX capabilities across the APAC region.