Monex, 360TGTX Partner to Launch New Credit Hub in Mexico

Fazzaco learned that Monex​, a Japanese online trading company, has partnered with 360TGTX, a global leading trading platform for Foreign Exchange, to launch the first local credit hub in Mexico for facilitating FX trading.

The new credit hub will allow local firms to interact with a much wider array of top tier liquidity providers globally, so the pricing that they see on the platform is not impacted by their own credit profile. The end result is that users of the hub are seeing better pricing in MXN and other currencies from a broader range of liquidity sources.

"We are very excited to be announcing the launch of our credit hub because we believe that it will deliver many benefits to the FX market here in Mexico. Connecting more onshore and offshore FX liquidity will help to deepen liquidity in the Mexican peso, while local market participants will also benefit from being able to access a world-class technology platform in 360TGTX that is also fully compliant with the FX Global Code of Conduct and industry best practices," said Javier Alvarado, CEO of Monex Casa de Bolsa.

Matt O'Hara, CEO 360 Trading Networks, Inc. (Americas), said: "We are delighted to be announcing this new partnership with Monex, which we think represents a major milestone for the Mexican FX market. As the first Latin American financial institution to become a member of CLS, Monex holds a very unique place within the infrastructure of the local FX market. Leveraging this to access the 360T ecosystem, which includes over 2,200 trading firms across over 75 different countries, offers the potential for tremendous growth in the local onshore market. Ultimately, we see this as the next step in the evolution of FX trading in Mexico."