Monex SAB de CV
MonFX is part of the wider financial services group, Monex SAB de CV (“Monex”), an investment grade, publicly listed financial services institution.
A specialist in commercial foreign exchange, the group services more than 70,200 clients worldwide. Monex’s team of experienced and professional FX specialists provide local support to corporate and institutional clients in each region of the world. Monex is established in key financial hubs across the globe, with offices spanning North America, Latin America, Europe and Asia.
MonFX is an independent Asia-Pacific subsidiary of Monex Europe Holdings Limited. Monex Europe Holdings Limited, operates various subsidiaries in the FX industry; in the UK, Monex Europe Limited and Monex Europe Markets Limited, Monex Europe S.A. in Luxembourg, and Monex Canada Inc. in Toronto, Canada. MonFX was established in 2018 as part of the group’s global expansions, to support our clients’ needs in the Asian market and local time zone.
The financial strength, corporate structure and governance of Monex enables the group to continually invest in the business, improve our client offering, scale our operations and maintain agility to constantly adapt in an ever-changing regulatory environment.
Timeline of Monex
Headquartered in Mexico City, Monex was founded in 1985 to address the payment and currency exchange needs of companies doing business internationally.
Monex expands product offering and operations with a number of strategic acquisitions.
Monex begins trading on the Mexican Stock Exchange (BMV: MONEXB).
Expanding internationally, Monex acquires FX specialist, Schneider Foreign Exchange in July 2012, which was subsequently renamed to Monex Europe Limited. Monex Europe is headquartered in London, United Kingdom. During 2012, Monex also starts operating in Spain.
Monex Europe Markets Limited is established. Monex Europe Markets is an investment firm authorised and regulated by the Financial Conduct Authority, offering structured FX products and services to professional clients only. It is a subsidiary of Monex Europe Limited.
Monex Europe opens a sales representative office in Amsterdam, the Netherlands.
Building on the success in Europe, Monex Canada Inc. was launched as a subsidiary, focused on providing local support to corporate clients in North America.
As part of the group’s global expansion, Monex establishes a presence in Asia with the launch of MonFX, our firm based in Singapore.
In December 2020, Monex establishes a regulated entity in Luxembourg, Monex Europe S.A. The entity provides FX payment services to European-based clients. Sales representative offices in Madrid and Amsterdam become part of Monex Europe S.A.
MonFX expands its product offering by obtaining a CMS Licence for dealing in FX OTC derivatives contracts.
MonFX expands payments services to account issuance, domestic money transfer and e-money issuance.