Banco Monex becomes first Mexican member of CLS
The bank is the only CLS settlement member in one of Latin America’s largest FX trading centres
Banco Monex has become the first Mexican financial institution to join foreign exchange utility service CLS as a settlement member.
In doing so, it becomes the 70th bank to join CLSSettlement, the payment-versus-payment service that settled $1.8 trillion on an average day on a single-count basis in April.
Banco Monex is a subsidiary of Monex Grupo Financiero, a large banking entity in Mexico that provides banking products and services in the country, including currencies and derivatives.
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