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

mexican-peso
Mexican peso: the world’s 10th most-traded currency, according to the BIS

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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