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BNY Mellon To Launch FX Prime Brokerage Service

BNY Mellon has announced plans to address the increasingly complex and capital-constrained FX market by launching a prime brokerage service for its institutional clients.  The service will launch in early 2018 and allow participants to more efficiently trade, finance and margin their FX through BNY Mellon, a highly-rated counterparty that oversees more than $33.3 trillion* of assets under custody. The initiative will add a new FX prime broker into the market, allowing clients to access a significant new source of FX liquidity while helping streamline and reduce operational expenses, including legal and onboarding costs, as well as generating substantial capital and netting gains. Clients...