MultiBank announces launch of MEX Exchange
MultiBank announces launch of MEX Exchange
MultiBank Group, a renowned online brokerage operator, has officially announced the launch of MEX Exchange, a pioneering electronic communication network (ECN) for institutional investors based in Dubai.
"This is the first global electronic communication network in the BRICS and GCC regions with prime brokerage capabilities and advanced infrastructure that will change the financial landscape," said MultiBank.
According to the brokerage, MEX Exchange has the potential to end the dominance of the US and Europe in the global ECN market and become the world's leading platform.
MEX Exchange was developed under the leadership of MultiBank Group founder Nasser Taher and MEX Exchange CEO David Ogg using proprietary technology, FNG said.
David Ogg, CEO of MEX Exchange and a key figure in the development of institutional ECNs, is leading the initiative. He founded HotspotFX and is credited with creating the first institutional ECN. Under his leadership, MEX Exchange's team of experienced developers aims to set new standards in the ECN industry.
MEX Exchange's strategic goal is to serve banks and financial institutions in emerging markets, particularly in the Middle East and Gulf region, which have historically been underserved by best execution capabilities. By focusing on regional needs and market insights and offering localized products, MEX Exchange can fill a significant gap left by existing players in developed markets.
Nasser Taher, founder of MultiBank Group, highlighted the potential of MEX Exchange: "Today we have unveiled a major project that will change the financial world in 2024. Within two to three years, MEX Exchange will have a profound global impact and generate significant financial revenues and profits". Mr. Taher emphasized the strategic importance of launching the only interbank ECN trading platform based in the GCC, highlighting its leading role in driving change and innovation in the global financial ecosystem.
The launch of MEX Exchange in Dubai confirms MultiBank's global plans and signals a significant shift towards decentralizing financial power and empowering emerging markets in the global economy.
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