NEW YORK: BNY Mellon is now live with foreign exchange options, enabling clients to better hedge currency exposure and express their views on the future direction of FX markets1.
BNY Mellon clients now have access to a full-service currency trading desk, offering spot, forwards, non-deliverable forwards as well as options. This offering complements an existing suite of broader FX services including FX custody, payments and hedging.
Options represent the next step as BNY Mellon builds out a comprehensive currency solutions platform following January’s announcement that the firm plans to launch an FX prime brokerage service.
The options business is being led by Sam Osterman, who joined BNY Mellon as Global Head of FX Options in January. Sam most recently served as Global Head of Flow Options at Barclays and is the latest in a series of FX industry leaders in electronic trading, sales and prime brokerage to have joined BNY Mellon Markets over the past two years.
“Options is a must-have as we transition into a full-service FX franchise that can meet all of our clients’ end-to-end trading, hedging, payments and administrative requirements,” said Adam Vos, Global Head of FX at BNY Mellon Markets.
“We have further enhancements to come later in 2018 as we continue to retool our FX capabilities to better equip clients for the challenges of today’s currency markets,” Vos added.