BNY Markets (iFlow)
BNY Markets provides a comprehensive suite of FX solutions for institutional clients.
The Bank of New York Mellon Corporation ('BNY'); UK entity: BNY Mellon Investment Management EMEA Limited · New York, USA · last re-checked 2026-09 · evidence score 81/100
Licence, read on the register
| Regulator | Licence number | Jurisdiction | Tier | Source |
|---|---|---|---|---|
| FCA | 119196 | United Kingdom | tier-1 | open source ↗ |
| SEC/FINRA (broker-dealer) | 8-13801 | United States | tier-1 | open source ↗ |
Tier classification follows the same scale as the retail register: tier-2 means real supervision and client-money segregation, without an investor compensation scheme. Rows without a tier are recorded without classification rather than guessed.
Where the published model fits
- FX trading for corporations
- Hedging solutions for banks
- Cross-border FX payments
Watch for
- Verification of self-measured execution claims
- Impact of firm age on service offerings
As a Tier-1 custody bank, BNY Markets offers a range of FX services including trading, hedging, and payments. Founded in 1784, the firm holds FCA and SEC/FINRA licenses, reflecting its established presence in the market. However, self-measured claims regarding execution flows and the absence of published venues warrant scrutiny.
Testable claims
- 'A comprehensive suite of FX solutions for trading, hedging and payment needs' (bny.com FX page)
- Core FX offerings: electronic trading, voice trading, segregated execution (algos and benchmarks), trading currencies 24/5 (bny.com FX page)
- FX Payments offers corporations, banks and other financial institutions cross-border FX payments and Nostro deposits (bny.com FX page)
- iFlow Insights: 'unique access to unrivaled global securities execution flows' (bny.com FX page)
Claims that remain the venue's own measurement
- 'Unrivaled global securities execution flows' — self-measured marketing
- 'Trades in over 100 currency markets' appears in an old PRNewswire release (c.2010s iFlow enhancements) — dated, treated as unverifiable
