NEW YORK - The Bank of New York has launched a foreign exchange/trade execution service for businesses.
The service, called iFX B2B, lets brokerages and securities exchanges give their clients real-time foreign exchange services. It also facilitates cross-border transactions such as equity trades, funds transfers, and sales of goods on the Internet.
The Bank of New York has also introduced a streamlined version of its IFX Manager proprietary foreign exchange trading system. The new version, called IFX Express, offers the same real-time quotes, charts, and trading functions as IFX Manager but does not include order management and system integration.
In addition to developing proprietary foreign exchange systems, the company supplies some technology to Fxall, the multibank foreign exchange trading consortium.