BNY Mellon has launched Universal FX, a new foreign exchange (FX) platform that builds on the existing OneFX suite of solutions to help clients “manage execution across their entire portfolio and access market-leading price transparency”. A press release announcing the launch reveals that the platform was designed with the transition to T+1 in mind.

Stating that “the investment management industry often manages portfolios across several providers resulting in an inconsistent FC execution experience”, BNY Mellon built Universal FX to enable clients to manage their whole portfolio from one place, “irrespective of where they custody, prime broker, or settle trades”.

In addition, the solution also provides to developed market and emerging market currency execution so the FX experience is also enhanced for global clients.