Sales & Trading
Easy-to-apply trading tools allow you to manage your currency risk with ease. We’ve also been investing to make our best-in-class product offering even better.
Whether or not you custody with BNY Mellon, our team provides you with advanced and competitive services designed to meet your FX demands, regardless of whether you are a financial institution, a buy-side firm, an institutional investor, or a corporate client.
Interact With Us Electronically
Our electronic FX offering centers on giving you the maximum flexibility and choice in how you trade currencies.
You can connect with us through our e-trading platform or via third-party platforms, such as Bloomberg, FxAll, ESB Direct, and Spark. We also support a range of order management systems and APIs in order to accommodate your preferred connectivity model.
Speak to Us in Person
Not every trade is best conducted electronically. As such, the ability to pick up the phone and reach a human being remains an important concern for many clients—not least during volatile markets when liquidity can become patchy.
If you have specialized trading requirements, are seeking to trade a more customized or less liquid instrument, or simply want to speak to somebody in person during turbulent markets—our team is standing by to help.
Within our deep and unique FX liquidity pool, we offer a suite of sophisticated algorithmic strategies. Our FX algo toolkit enables you to express your preferences using low-touch, programmatic trading strategies that have the potential to help you manage your portfolio.
We provide transparent, rules-based currency program execution that frees you to focus on your primary business goals.
Our FX Program Trading unit is also segregated from our FX Sales & Trading business and all of our programmatic trading services benefit from price netting.
Our extensive suite of non-discretionary FX trading programs execute your orders in systematic fashion, but also hand you the ability to determine key elements of how our program operates — enabling you to execute in the manner you require.
All of our programs benefit from intraday reporting, which gives you more visibility into your order status, micro-timestamping on your transactions so you know precisely when your trade was executed, and TCA compatibility to enable you to independently evaluate our prices.
We also offer seamless integration into your order management system of choice and access to cutting-edge APIs that enable you to transact according to your preferences.
Trading FX in the session range program is useful if you’re executing transactions throughout the day. This program calculates one rate per session by considering the market range over a predefined trading period.
Some clients might prefer a more tailored approach to the execution of their FX trades. The Defined Spread program enables you to arrange up to 12 predetermined, independent pricing times throughout a trading day—giving you the opportunity to execute at a range of prices across the session.
Our most flexible FX pricing program, Benchmark allows participants to select the timing of their FX execution at independent fixings or at any hour throughout the trading day between 3 a.m. and 9 p.m. London time.
NEW: Large Order Execution
You can now access programmatic algorithmic execution methods for orders over a certain size. This new capability enables you to design elements of your standing orders.
Our FX Platforms go beyond our suite of currency trading tools, offering you a broader range of integrated services. If you wish to follow sophisticated FX hedging strategies, need to facilitate overseas payments, or seek additional liquidity provided by prime brokerage, then our FX Platforms are for you.
Whatever your hedging needs, our seasoned team of product specialists can create tailored overlay solutions that precisely match your specific requirements. With $100 billion of hedged assets under management, our FX overlay solutions are designed to improve tracking efficiency, reduce operational risk, and provide full visibility into your execution.
We perform your FX overlay strategy, executing hedges, adjustments, and rolls—all in an efficient and consolidated manner. Plus, FX overlay comes with comprehensive reporting to ensure full transparency into how you are being hedged.
We offer two principal FX overlay programs:
Share Class Hedging
This program supports the distribution of your funds to investors around the globe, while insulating them from excessive currency volatility. The program is designed to reduce exchange rate fluctuations from one base currency to another, or to a basket of currencies.
Portfolio Overlay Hedging
Supports mitigation—in whole or in part—of your FX exposure, either within a single portfolio or by hedging against currency risk in an aggregated holding made up of several portfolios.
*1 BNY Mellon does not act as an adviser.
The ability to make efficient and cost-effective cross-border payments is essential for businesses operating in a global marketplace. That’s why it is important to partner with a bank network that can securely process your cross-border FX payment activity.
FX Payments enables you to complete transactions in over 160 countries via multiple channels, leveraging BNY Mellon’s extensive global payments infrastructure and local market expertise.
Key Service Features
- Eliminate the need to maintain local currency accounts
- Initiate payments directly from your account to pay beneficiaries globally
- Send payments in over 120 currencies
- Receive support from our local client services teams
If you want a choice of payment options and more, we provide:
- Direct channels, including SWIFT, FedWire, web, or file uploads
- Negotiated or daily rate options
- Pay by wire, drafts, or low-value clearing systems (iACH)
- 24/5 support
FX Prime Brokerage
Due to regulatory requirements, as well as stricter bank capital and margin obligations, many clients are finding it harder to access liquidity. Our prime brokerage service offers an alternative avenue through which to access the market.
You can centralize all your portfolio obligations and consolidate your entire collateral exposure at BNY Mellon, leaving your post-trade workflow to us.
Key Service Features
- Access to abundant FX liquidity
- Portfolio netting to reduce gross counterparty exposure
- IM and VM consolidation
- Collateral transformation via our Collateral Management and Securities Finance services
- Automated post-trade workflow
- 24-hour client service