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Last year alone, Monex executed 6 million foreign exchange transactions. Photo: Shutterstock 

In light of the fast-approaching end of the transition period on 31 December, and the looming no-deal Brexit, the FX company is trying to further expand its activities in continental Europe. After Madrid in 2012 and Amsterdam in 2015, the new office in Luxembourg at the very heart of Europe's financial services industry, will be the third in this area. 

"To successfully respond to a post-Brexit environment, it was of the utmost importance for us to operate within the EU internal market to ensure that we can continue to meet all our customers' needs. Luxembourg is known as a gateway to the single market and we are very pleased to have been licensed by the Commission de Surveillance du Secteur Financier to operate as an authorised payment service provider. Monex Europe S.A. also ensures a smooth transition of the services and products of Monex customers to a post-Brexit environment. In addition, it fits well with our growth strategy," explained Nick Edgeley, Monex Europe CEO. 

Although the group’s head office is located in Mexico City, Monex Europe is headquartered in London. With the uncertainty surrounding EU-UK relations post-Brexit, the FX firm is therefore trying to strengthen its network in central Europe in order to continue providing foreign exchange and international payment services to European customers without disruptions. 

Monex Europe is part of Monex SAB de CV (“Monex Group”) an investment grade, publicly listed financial services institution (BMV: MONEXB), and a leading player in commercial foreign exchange. The group services more than 70,200 clients worldwide, including listed companies, private companies and financial institutions from various sectors. Last year, Monex executed 6 million FX transactions.