Monex and 360TGTX Partner to Launch FX Credit Hub in Mexico

Monex, a Mexican company, and German-headquartered 360TGTX have entered into a partnership to launch a local credit card hub in Mexico for facilitating FX trading, the companies announced on Thursday.

Monex, which is a CLS member, will leverage its strong credit profile and will act as a credit hub for the 360TGTX platform. It will enable any Mexican firm with a credit arrangement with Monex to use the credit hub, thus accessing 360TGTX’s global Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term ecosystem.

“We are very excited to be announcing the launch of our credit hub because we believe that it will deliver many benefits to the FX market here in Mexico,” said Javier Alvarado, CEO of Monex Casa de Bolsa.

“Connecting more onshore and offshore FX liquidity will help to deepen liquidity in the Mexican peso, while local market participants will also benefit from being able to access a world-class technology platform in 360TGTX that is also fully compliant with the FX Global Code of Conduct and industry best practices.”

Filling the Liquidity Gap

The credit hub has been launched to tackle the credit constraints local Mexican FX market participants are facing with limited liquidity access. This restricts them to receive the best available pricing.

The announcement further elaborated that the credit hub will allow local companies to access much wider global Liquidity Providers Liquidity Providers A liquidity provider (LP) constitutes either individual and/or institution that functions as a market maker in a given asset class. Broadly speaking, liquidity providers will act as the both the buyer and seller of a particular asset, thus making a market. In the equities space, many stock exchanges rely on liquidity providers who make the commitment to provide liquidity in a given equity. These liquidity providers commit to providing liquidity in the hopes that they will be able to make a profi A liquidity provider (LP) constitutes either individual and/or institution that functions as a market maker in a given asset class. Broadly speaking, liquidity providers will act as the both the buyer and seller of a particular asset, thus making a market. In the equities space, many stock exchanges rely on liquidity providers who make the commitment to provide liquidity in a given equity. These liquidity providers commit to providing liquidity in the hopes that they will be able to make a profi Read this Term that will ensure the FX pricing does not impact their local credit profile.

“As the first Latin American financial institution to become a member of CLS, Monex holds a very unique place within the infrastructure of the local FX market. Leveraging this to access the 360T ecosystem, which includes over 2,200 trading firms across over 75 different countries, offers the potential for tremendous growth in the local onshore market,” Matt O’Hara, CEO at 360 Trading Networks (Americas), added.

“Ultimately, we see this as the next step in the evolution of FX trading in Mexico.”

Meanwhile, Monex is expanding its European business and has opened a new Luxembourg subsidiary. Recently, it appointed David Brown to oversee the company’s expansion efforts.