BNY Mellon, Deutsche Bank to Extend FX API for Indonesia and India

The two are working out the necessary regulatory, tax, and documentation needed to provide custody services for foreign exchange transactions in the two countries.

Investing in foreign stocks and bonds can be more cumbersome than it first appears. Often, many of the workflows and processes go on behind the scenes between firms’ back-office operations, with multiple back-and-forth communications between counterparties’ custody teams. 

The complexity of this process is exacerbated when dealing with investments in countries with restricted currencies—currencies subject to currency controls imposed by their governments. 

Some governments impose capital

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