BONY has launched iFX B2B and iFX Express, a streamlined version of its current FX order management and execution system, iFX Manager.
iFX B2B provides customers with real-time FX execution services that allow them to effect payment conversion as part of their underlying business offerings. The service facilitates cross-border transactions including:
- online equity trading
- funds transfer services
- sales of foreign goods via the Internet
Companies can use iFX B2B to price their offerings in local currencies in real-time, regardless of notional amount, and perform payment conversions for their customers via The Bank of New York, according to the press release.
Slimmed down iFX Express is designed for clients wishing to execute FX spot, forward, and swap transactions electronically with BONY, but don’t require the order management and system integration features of iFX Manager.
The new BONY tools are at http://globalmarkets.bankofny.com .