Monex Europe is a UK-based foreign exchange company that provides currency exchange and international payments to corporate and institutional clients.
It is an independent subsidiary of Monex Europe Holdings Limited,[1] which is part of the wider financial services group, Monex S.A.P.I. de C.V. (“Monex”),[2] a global investment-grade financial services institution.
Monex Europe provides smart foreign exchange (FX) solutions designed to help clients improve business efficiency and manage cash flow as well as foreign exchange risk to protect profits. This includes spot and forward contracts, market orders, margin credit facilities, and other bespoke FX hedging solutions.
Monex Europe also provides global payment and technology solutions, which benefit clients who regularly send and receive funds in foreign currencies, providing them with the ability to outsource global payment processes by integrating their API. The company’s client base includes multinational companies, investment funds, financial institutions, listed companies, asset managers, venture capital, family offices, private equity firms, SPVs, importers and exporters, as well as private high net-worth individuals and SMEs from a variety of sectors.[3]
Monex Europe Limited is authorised and regulated by the Financial Conduct Authority (FCA) under the Payment Services Directive (PSD) as an Authorised Payment Institution.[4]
History
Headquartered in Mexico City, Monex was founded in 1985 to address the payment and currency exchange needs of companies doing business internationally. In 2001, Monex expanded its product offering and operations with a number of strategic acquisitions.[5]
In July 2012, Monex expanded internationally, acquiring FX specialist Schneider Foreign Exchange, which was subsequently renamed to Monex Europe Limited. Monex Europe is headquartered in London, United Kingdom. During 2012, Monex also started operating in Spain.[6]
In 2014, Monex Europe Markets Limited was established, 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.[7]
2015 saw the opening of Monex Europe’s sales representative office in Amsterdam, and following on from this success in Europe, Monex Canada Inc. was launched in 2017 as a subsidiary, focused on providing local support to corporate clients in North America.[8]
As part of its continued global expansion, Monex established a presence in Asia with the launch of MonFX, its Singapore based firm, in 2018. [9]
In December 2020, Monex established a regulated entity in Luxembourg, Monex Europe S.A, to continue servicing clients across the European Economic Area post-Brexit. The entity provides FX payment services to European-based clients and has a sales representative office in Amsterdam, the Netherlands. [10]
In 2021, MonFX expanded its product offering by obtaining a CMS Licence for dealing in FX OTC derivatives contracts. [11]
In 2023, Monex Europe enhanced and extended its suite of hedging solutions, including FX and interest rate derivatives, by strengthening its FX options team to facilitate sophisticated hedging strategies for clients. [12]
Operations
Monex Europe Limited is headquartered in London (UK) and is an independent subsidiary of Monex Europe Holdings Limited.
Monex Europe Holdings Limited operates various subsidiaries in the FX industry: Monex Europe Limited, Monex Europe Markets Limited, Monex Europe S.A., Monex Canada Inc. and MonFX Pte Ltd. It has offices in the UK, Spain, the Netherlands, Luxembourg, Toronto and Singapore.
