Leading online brokerage MultiBank Group has announced the launch of a ground-breaking Institutional Investor Electronic Communications Network (ECN) called MEX Exchange. Headquartered in Dubai, MultiBank said MEX Exchange is the world’s first global Institutional Investor Electronic Communications Network (ECN) based in BRICS and GCC countries, including Prime Brokerage facilities and other related infrastructure that is set to redefine the financial landscape. The company said the MEX Exchange is poised to break the regional dominance of the US and Europe in the global ECN market and become the leading venue in the world.
MEX Exchange has been created by an experienced team of developers, using proprietary technology, led by MultiBank Group founder Naser Taher and MEX Exchange CEO David Ogg, who is widely recognized as the creator of the first institutional ECN. As the founder of HotspotFX, David played a critical role in the growth and development of ECNs and pioneered the way prime brokerage operated across multi-venue platforms.
MEX Exchange has a strategic goal of enabling banks and other financial institutions in historically underserved emerging markets with the best execution capabilities. Throughout the BRICS and GCC, a regional focus and understanding of the market, including local product offerings, will enable MEX Exchange to fill the gap left by existing market participants in their operations in established markets.
Naser Taher, founder of MultiBank Group, emphasizes the importance of MEX Exchange:
“Today, we are unveiling a major project that will reshape the financial world order of 2024. Within two to three years, the MEX Exchange will have a profound global impact, offering significant financial returns and profits. As the only ECN interbank trading platform based in the GCC and BRICS countries, we are at the forefront of change and innovation.”
About MultiBank Group
Founded in California, USA in 2005, MultiBank Group has grown to a daily transaction volume exceeding $12.1 billion, serving over 1 million customers. The MultiBank Group has matured into one of the world’s largest online financial derivatives providers, offering a range of brokerage services and asset management solutions. The group’s award-winning trading platforms offer a wide range of products including Forex, Metals, Shares, Commodities, Indices and Digital Assets.