BNY Mellon Launches New Version of iDeal Forex(SM)

Updated version improves the management of cross-border FX payments

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Jun 28, 2010, 08:13 ET

NEW YORK, June 28 /PRNewswire/ -- BNY Mellon, the global leader in asset management and securities servicing, today announced the launch of a new version of iDeal Forex(SM), BNY Mellon's Web-based application for cross-border FX payments.

An industry leading cross border payments solution for more than 13 years, iDeal Forex enables clients to manage FX-related aspects of their commercial payment and receipt processing on-line. Specific functionalities include the initiation and authorization of cross-border payments; currency conversion via real-time FX rates; and maintenance of payment instructions used for ad hoc or repetitive payments. Developed using Adobe Flex technology, the new version of iDeal Forex is completely redesigned. User friendly enhancements include an improved workflow for creating and submitting FX payment requests; a redesigned reporting module that organizes frequently-run reports; and a new e-mail notification functionality.

"We're committed to maintaining BNY Mellon's service and technology leadership across all segments of the FX marketplace," said John W. Orr, managing director, BNY Mellon Global Markets and iDeal Forex product manager. "The improvements in the new version of iDeal Forex reflect extensive inputs from our corporate and investment management clients, and will make it easier for them to manage FX-related aspects of their treasury and accounts payable activities internationally."

BNY Mellon Global Markets' integrated suite of on-line FX service solutions includes iDeal Forex for cross border FX payments; iFX Manager for FX order management and trade execution; iHedge for currency hedge administration, and iConfirm for FX post-trade services. More information on BNY Mellon's on-line FX solutions is available at www.bnymellon.com/globalmarkets/ecommerce.html.

BNY Mellon Global Markets encompasses the foreign exchange, interest-rate and equity risk management businesses of BNY Mellon, including global trading and sales activities. BNY Mellon is a premier foreign exchange provider, trading in over 100 currency markets around the world. In Asia-Pacific, BNY Mellon has four trading rooms in Hong Kong, Seoul, Taipei and Tokyo offering and trading foreign exchange, money markets, foreign exchange derivatives and interest rate derivatives. Additional information is available at http://gm.bankofny.com. Foreign Exchange and other Global Markets products and services are provided by banking subsidiaries and other affiliates of The Bank of New York Mellon Corporation.

BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $22.4 trillion in assets under custody and administration, $1.1 trillion in assets under management, services $11.8 trillion in outstanding debt and processes global payments averaging $1.5 trillion per day. Additional information is available at www.bnymellon.com.

SOURCE BNY Mellon