Monex Group (Mexico) Acquires Schneider Foreign Exchange to Form Monex Europe

Monex Group (Holding Monex SAPIB), one of the world’s largest commercial foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term providers, has today acquired London-based FX specialist Schneider Foreign Exchange in a cash deal worth in the region of USD 100 million.

As a result of the Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term Schneider Foreign Exchange will be renamed Monex Europe. The acquisition makes Monex Group one of the largest deliverable commercial FX specialists in the world, turning over a combined USD 125 billion in currency transactions annually.

The company’s London office will become the European HQ for Monex Group as it pursues aggressive expansion into mainland Europe. Its successful management team will remain unchanged.

Hector Lagos, Chairman, Monex Group said: “This acquisition is a key strategic investment in Europe for us. Schneider Foreign Exchange is already leading commercial FX in the UK and we look forward to supporting its ambitious growth plans across the continent as Monex Europe.”

Nick Edgeley, Managing Director, Monex Europe said: “In today’s uncertain climate, CFOs need expert guidance if they are to mitigate the risks posed by increasingly volatile exchange markets. As the Eurozone crisis escalates, European multinationals are also increasingly looking to emerging markets for growth and export. Joining Monex Group gives us a global footprint and provides the firepower to rapidly expand our successful business across Europe and beyond.”

Mauricio Naranjo, Managing Director, Monex Group said: “As the leading FX specialist in the UK, Schneider Foreign Exchange was the obvious choice for this deal. The business is known for its world-class service, ambitious management team and premium client list which fits perfectly with the ethos of the group.”

Founded in 1985, Monex Group is a publicly quoted financial services group (BMV: MONEXB) headquartered in Mexico. The group boasts assets of USD 2.8 billion, net assets of USD 280 million and employs 2,310 people across Latin America, the United States and Europe. Banco Monex, the group’s largest entity, has an international ‘BB+/B’ global scale credit rating from Standard & Poor’s and a tier one capital ratio of 22.6%.

Marex Spectron a leading commodity broker acquired a part of Schneider FX.

Mexico is fast becoming a hub for Margin FX in LATAM, recently Gain Capital signed up a leading financial institute as a White label partner. A white label is a solution whereby a financial institution can offer products and services of a third party but maintains its brand and reputation with its client base.