07.08.2020

BNY Mellon And Deutsche Bank Develop API FX Confirmations

07.08.2020
BNY Mellon And Deutsche Bank Develop API FX Confirmations

BNY Mellon and Deutsche Bank have jointly developed a new API-enabled foreign-exchange (FX) solution that can dramatically improve confirmation times for restricted emerging-market currency trades.

The digital solution, initially being applied to custody FX transactions in Korean Won, aims to reduce the pre-trade lifecycle to seconds from hours, minimizing the operational burden and manual intervention that can be prevalent in emerging-market custody FX.

The solution is already live in Korea, with the Indonesian Rupiah and the Indian Rupee targeted next. Subsequently, it will be progressively rolled out to a broad range of restricted currencies, which are linked to investors’ underlying equity or fixed-income transactions.

Leveraging existing bots between the two banks for instantaneous communication to help eliminate market frictions, the solution can also bring trade remediation closer to the time of execution. The resulting benefits can also reduce price slippage for clients between the FX leg of a transaction and the equity or fixed-income security trade.

Digital innovation in FX markets is accelerating in emerging markets, particularly in Asia, because securities denominated in those currencies are increasingly being included–or more heavily weighted–in emerging-market indices and exchange-traded funds (ETFs).

“We are constantly looking at ways to introduce cutting-edge technology for the benefit of our clients. With this partnership, we are not only seizing an opportunity to alter back-office processing in restricted markets, but more importantly, we are providing front-office users with faster execution and enhanced workflow transparency,” said Jason Vitale, Global Head of FX at BNY Mellon

“This is a milestone in solving a long-standing challenge in emerging markets, with broad application for the industry and our clients. This demonstrates our commitment to market leading execution, at a time when investor participation and focus on costs in these markets are increasing. The collaboration between the two organizations leverages our strengths and expertise in emerging markets, custodial FX, as well as digital work-flow and innovation,” said David Lynne, APAC Head of Fixed Income & Currencies, and Corporate Bank, at Deutsche Bank.

Source: Deutsche Bank

Markets Media Group was pleased to host the 2025 European Women in Finance Awards last night at Claridge’s in London.
#WomeninFinance #WIF #EuropeanFinance #FinanceCommunity

See the full list of winners here: https://www.marketsmedia.com/2025-european-women-in-finance-awards-the-winners/

3

We are excited to announce the finalists for the 2025 U.S. Women in Finance Awards! Congratulations to all!

Check out the full list here:


#WomeninFinance #WIF #financeindustry

Nominations are NOW OPEN for the 2026 Women in Finance LatAm Awards! Do you know a standout leader, innovator, or rising star? Nominate her today!

Learn more & submit your nomination:

#WomeninFinance #Finance #WIF

HSBC AI Markets harnesses natural language processing to meet market participants’ trading and hedging needs, from pre-trade analysis, to execution, to post-trade. Markets Media caught up with Tom Croft to learn more about the platform.

#AIMarkets

Load More

Related articles

  1. Bank of England Endorses SEFs Ahead of European Clearing Launch

    The Bank is prepared to provide central bank accounts and be “the banker” to stablecoin issuers.

  2. Banks' Risk Management Seen as Lagging

    First Brands Group filed voluntary petitions for Chapter 11 bankruptcy protection.

  3. Morgan Stanley will be the first to implement this new AI-powered capability.

  4. SIP Speeding Up

    Every asset servicing transaction will be processed in real-time through a single and seamless flow.

  5. CBOE to Upgrade Trading Platform

    Institutions can access blockchains without needing to upgrade to new infrastructure.

We're Enhancing Your Experience with Smart Technology

We've updated our Terms & Conditions and Privacy Policy to introduce AI tools that will personalize your content, improve our market analysis, and deliver more relevant insights.These changes take effect on Aug 25, 2025.
Your data remains protected—we're simply using smart technology to serve you better. [Review Full Terms] | [Review Privacy Policy] Please review our updated Terms & Conditions and Privacy Policy carefully. By continuing to use our services after Aug 25, 2025, you agree to these

Close the CTA