“Today, we unveil a major project that will re-shape the 2024 Financial World Order. Within two to three years, MEX Exchange will have a profound global impact, delivering substantial financial returns and profits. As the only ECN inter-bank trading platform based in the GCC and BRICS countries, we’re at the forefront of change and innovation.”
MultiBank Group has announced the rollout of its new Institutional Investor Electronic Communications Network (ECN), MEX Exchange.
MEX Exchange is intended to break the regional dominance of the USA and Europe in the global ECN market and become a leading venue, based in the BRICS and GCC countries.
Despite being adept at breaking such regional dominance, MultiBank Group was founded in California, USA, in 2005.
MEX Exchange “will re-shape the 2024 Financial World Order”
Naser Taher, Founder of MultiBank Group, said: “Today, we unveil a major project that will re-shape the 2024 Financial World Order. Within two to three years, MEX Exchange will have a profound global impact, delivering substantial financial returns and profits. As the only ECN inter-bank trading platform based in the GCC and BRICS countries, we’re at the forefront of change and innovation.”
Behind the development of MEX Exchange is a team of seasoned developers utilizing proprietary technology, under the direction of MultiBank Group Founder Naser Taher and MEX Exchange CEO, David Ogg,
David Ogg is an industry giant, mainly known as the founder of HotspotFX, the pioneer ECN platform launched in 2002 that offers spot foreign exchange market access to market participants. Hotspot was acquired by Knight Capital Group, Inc., the predecessor of KCG Holdings, in 2007 in an all-cash deal for approximately $77.5 million. In January 2015, KCG sold Hotspot to BATS Global Markets for $365 million in cash. It was then sold to CBOE Holdings as part of the $3.2 billion acquisition of Bats Global Markets, which closed in February 2017.
As the founder of HotspotFX, David Ogg played a crucial role in the development and growth of ECNs and pioneered how prime brokerage operated across multi venue platforms.
The goal of MEX Exchange is to enable banks and other financial institutions in the emerging markets who have historically been under-served in best execution capabilities.
The new ECN is focused on the BRICS and GCC, which will benefit from MultiBank Group’s regional know-how and localized product offerings to fill the void left by existing market participants in their operations within the established markets. The group’s award-winning trading platforms offer a diverse range of products, including Forex, Metals, Shares, Commodities, Indices, and Digital Assets.
