Monex Europe obtains Spain’s CNMV license to offer FX derivatives and payments
“These licenses enable us to provide our clients in Spain and beyond with the highest standards of transparency and quality, cementing our position as a market leader in the industry. We are excited to leverage the opportunities these licenses unlock to provide a best-in-class service.”
Monex Europe Holdings Limited (MEHL) has made significant strides in the European market with the acquisition of an investment and payment license in Spain.
This development has led to the establishment of two new subsidiaries: Monex Europe Markets S.V., S.A.U. (MEMS) for investment services, and Monex Europa S.L. (MESL) for authorized payment services.
Non-deliverable FX derivatives, deliverable FX, and payments
MEHL is a part of the global financial services group Monex S.A.P.I. de C.V. (Monex), known for its expertise in commercial foreign exchange. Monex operates in various countries, including the UK, Netherlands, Luxembourg, Toronto, Singapore, USA, and Mexico. The addition of these Spanish subsidiaries marks a significant expansion of Monex’s global presence, especially in Europe.
MEMS has received an investment license from the Comisión Nacional del Mercado de Valores, enabling it to offer a range of non-deliverable FX derivatives. This positions Monex as a key player in the investment sector.
MESL, granted permission by Banco de España, will provide deliverable FX and payment services, meeting the needs of the Spanish and European markets.
“These licenses firmly position Spain as our European hub”
Mauricio Naranjo, CEO of Monex said: “We are thrilled to have achieved this dual milestone, which significantly extends our remit in Europe and reflects the steep growth Monex has seen over 2023. These licenses firmly position Spain as our European hub, benefitting both existing and new clients across the continent.”
Nick Edgeley, CEO of Monex Europe, said: “This development showcases Monex Europe’s unwavering commitment to providing cutting-edge financial solutions to the local Spanish market whilst extending its scope across the broader European payments and investments landscape. We are always on the lookout for growth opportunities and look forward to embarking on this next chapter of our journey.”
Ignacio Lizarraga, General Manager of Monex Europe in Spain, said: “These licenses enable us to provide our clients in Spain and beyond with the highest standards of transparency and quality, cementing our position as a market leader in the industry. We are excited to leverage the opportunities these licenses unlock to provide a best-in-class service.”