Banco Monex Becomes First Mexican Member of CLSSettlement

[kreslik.news]

CLS, a market infrastructure group, announced today that Banco Monex will become a settlement member of CLSSettlement. As the name suggests, CLSSettlement provides payment-versus-payment settlement services for the foreign exchange (FX) market.

Since its launching in 2002, 69 banks, and thousands of 3rd party service providers, have joined CLSSettlement as members. Currently the service settles an average of $5 trillion worth of trades in the FX market every day. Praising CLSSettlement, Banco Monex’s CEO Mauricio Naranjo, described his company’s move as an “important milestone”.

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Banco Monex’s addition to the membership ranks of ... (read more)