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Get the latest Information about FX Bridge

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Get the latest Information about FX Bridge

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  1. Learn More About FX Bridge And Its Updates CLS, a market infrastructure group, provider of payment settlement services, processing and data solutions for the Fx market has announced earlier today that Banco Monex has joined as settlement member of CLS Settlement. With this, Banco Monex becomes the first Mexican member of CLS Settlement. Since its launch in 2002, 69 other leading banks and thousand other third-party service providers have CLS Settlement as members. Currently, through CLS Settlement settles an average $5 trillion worth of trades in the forex market daily. While praising CLS Settlement, Banco Monex’s CEO Mauricio Naranjo, termed the company’s move as an important milestone. Banco Monex will be largely benefitted from reduces settlement risk, enhanced efficiency and increased liquidity support in its FX Bridgeoperations. For CLSSttlement, the addition of Banco Monex as a settlement member will result in an increase of settlement value. The Mexican Peso is the most actively traded currency in the Latin American region, and Banco Monex’s total trading will result in CLS Settlement’s settlement activities. David Puth, CEO of CLS 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 CLS Settlement 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 and enable us to deliver a safer and more stable Flextrade Fx. We look forward to continued growth in the Mexican market.” Mauricio Naranjo, CEO of Grupo Financiero Monex commented: “Joining CLS as a member with direct participation in the CLS settlement service is an important milestone for Banco Monex. The Mexican peso is the most actively traded currency in the Latin American region, and mitigating settlement risk is a key priority for many institutions. Participation within the CLS ecosystem will enable us to achieve this goal for our operations and through time for our clients as third parties, while significantly enhancing liquidity efficiencies for the Mexican market.”

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