Banco Monex Becomes First Mexican Member of CLSSettlement
- The firm claims its membership will improve its liquidity and reduce settlement risk
CLS, a market infrastructure group, announced today that Banco Monex will become a settlement member of CLSSettlement. As the name suggests, CLSSettlement provides payment-versus-payment settlement services for the 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 (FX) market.
Since its launching in 2002, 69 banks, and thousands of 3rd party service providers, have joined CLSSettlement as members. Currently, the service settles an average of $5 trillion worth of trades in the FX market every day. Praising CLSSettlement, Banco Monex's CEO Mauricio Naranjo, described his company's move as an "important milestone."
Banco Monex’s addition to the membership ranks of the service is likely to increase that settlement value figure. The Mexican Peso is the most actively traded currency in the Latin American region, and Banco Monex’s flow of cash will only increase CLSSettlement’s settlement activities.
Increasing 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 for the Mexican market
The move will also be beneficial to Banco Monex in a number of ways. For instance, the firm will able to reduce its settlement risk and increase its liquidity to further develop its FX operations.
Banco Monex will also become the first Mexican member of CLSSettlement, something noted by the latter’s CEO, David Puth. Discussing the addition of Banco Monex to CLSSettlement’s ranks, Puth said: “I could not be more pleased to welcome Banco Monex as the first Mexican bank to participate directly in our settlement service. Participation in CLSSettlement continues to grow, and our settlement members, such as Banco Monex, play a critical role in ensuring market participants have access to the highest standard of risk mitigation to support their trading operations.”
CLS, a market infrastructure group, announced today that Banco Monex will become a settlement member of CLSSettlement. As the name suggests, CLSSettlement provides payment-versus-payment settlement services for the 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 (FX) market.
Since its launching in 2002, 69 banks, and thousands of 3rd party service providers, have joined CLSSettlement as members. Currently, the service settles an average of $5 trillion worth of trades in the FX market every day. Praising CLSSettlement, Banco Monex's CEO Mauricio Naranjo, described his company's move as an "important milestone."
Banco Monex’s addition to the membership ranks of the service is likely to increase that settlement value figure. The Mexican Peso is the most actively traded currency in the Latin American region, and Banco Monex’s flow of cash will only increase CLSSettlement’s settlement activities.
Increasing 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 for the Mexican market
The move will also be beneficial to Banco Monex in a number of ways. For instance, the firm will able to reduce its settlement risk and increase its liquidity to further develop its FX operations.
Banco Monex will also become the first Mexican member of CLSSettlement, something noted by the latter’s CEO, David Puth. Discussing the addition of Banco Monex to CLSSettlement’s ranks, Puth said: “I could not be more pleased to welcome Banco Monex as the first Mexican bank to participate directly in our settlement service. Participation in CLSSettlement continues to grow, and our settlement members, such as Banco Monex, play a critical role in ensuring market participants have access to the highest standard of risk mitigation to support their trading operations.”