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10/26 Industry News: BNY Mellon launched a new forex platform, "Universal FX."

TraderKnows
TraderKnows
05-10

BNY Mellon, a New York-based bank, has launched a new foreign exchange platform called "Universal FX"; CySEC reinstates the regulatory license of broker Alvexo.

1. BNY Mellon launches a new foreign exchange platform, "Universal FX"

Following the launch of new white label service products, BNY Mellon announced on October 25 the release of a new foreign exchange platform, Universal FX. This platform meets clients' needs for managing the execution of their entire investment portfolio while providing them with market-leading price transparency.

2. CySEC reinstates the regulatory license of broker Alvexo

The Cyprus Securities and Exchange Commission (CySEC) has revoked its decision to suspend the CIF license of the derivatives broker Alvexo since August 2022, stating that it now meets all compliance requirements. Notably, the previous suspension of the license was due to allegations of rule violations by its partner agents.

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Refers to transactions conducted in the over-the-counter market, also known as decentralized trading. In over-the-counter trading, buyers and sellers engage in transactions directly with each other, bypassing public exchanges.

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