BNY Joins FX, ADR Platforms
CONNECTIVITY
NEW YORK--The Bank of New York (BNY) will go live with a real-time link between its American Depositary Receipt (ADR) conversion platform, ADR Direct, and its iFX foreign exchange (FX) dealing platform, allowing clients to immediately price transactions on foreign exchanges in US dollars, officials say.
ADR Direct allows clients to electronically trade ordinary (foreign) shares in the home market with G-Trade, the international trading business unit of BNY, acting as an agency broker. BNY
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