Monex Europe

Monex Europe is the European foreign-exchange and international-payments business associated with Mexican financial group Holding Monex. Based in London, the company provides currency-conversion and payment services to corporate and institutional clients rather than operating primarily as a consumer retail exchange brand. Its customer base includes companies listed on the FTSE, financial institutions, small and medium-sized enterprises, government bodies and nonprofit organisations. The business originated in 2006 as Schneider Foreign Exchange. It was founded by Sonny Schneider, Nick Edgeley, Will Tracey, Shelton Fray and Antony North, and initially operated as a money-services business registered with HM Revenue & Customs. The company’s early development placed it within the expanding United Kingdom market for specialist foreign-exchange providers serving companies with cross-border payment and currency-risk requirements. Schneider Foreign Exchange received recognition in 2010 when it was named a finalist in the Private Company of the Year category at the National Business Awards. In March 2011, it obtained authorisation from the Financial Conduct Authority as an Authorised Payment Institution. This regulatory status supported its provision of payment services and distinguished the company from an unregulated currency broker. A major ownership and branding change took place in July 2012, when Mexico-based Monex Group acquired Schneider Foreign Exchange. Following the transaction, the company was renamed Monex Europe Ltd and became part of Holding Monex’s international foreign-exchange operations. The acquisition connected an established UK specialist with a larger financial group whose activities include commercial foreign exchange and related financial services. Nick Edgeley and Will Tracey continued to serve on the Monex Europe leadership team after the acquisition, while the other founders pursued separate business activities. Monex Europe’s principal services include same-day foreign-exchange transactions, spot contracts and forward contracts. Same-day and spot transactions are used for immediate or near-term currency conversion, while forward contracts allow eligible clients to agree an exchange rate for a future transaction. These products are relevant to organisations exposed to international trade, overseas payroll, investment flows or other cross-border obligations. The company also offers international payment capabilities connected to its foreign-exchange services. In January 2014, Monex Europe expanded its business structure through the launch of Monex Europe Markets Ltd, a subsidiary focused on selling financial derivatives. The subsidiary received separate Financial Conduct Authority authorisation. This development broadened the group’s European offering beyond core foreign-exchange dealing and payment services. The company’s European footprint includes its London headquarters and additional offices in Madrid and Amsterdam. Its business model is oriented toward corporate and institutional relationships, regulated execution and support for clients managing international currency needs. Publicly available reference material describes Monex Europe as an active European subsidiary of Holding Monex, although it does not provide enough current information to establish a complete present-day executive roster, revenue profile or detailed product catalogue.

Monex Europe began in 2006 under the name Schneider Foreign Exchange. The United Kingdom company was founded by Sonny Schneider, Nick Edgeley, Will Tracey, Shelton Fray and Antony North. It was established as a specialist foreign-exchange and money-services business and was registered by HM Revenue & Customs as a money-services business. The company developed by serving organisations that needed business-to-business currency conversion and international payment support. Its offering included same-day transactions, spot foreign exchange and forward contracts. These services enabled corporate and institutional users to address immediate payment needs as well as planned currency exposures. The customer categories described for the business included FTSE-listed companies, financial institutions, SMEs, government organisations and nonprofit bodies. In October 2010, Schneider Foreign Exchange became a finalist for the Private Company of the Year award at the National Business Awards. The following year brought an important regulatory development: in March 2011, the Financial Conduct Authority authorised the company as an Authorised Payment Institution. The authorisation gave the business a regulated framework for providing payment services in the United Kingdom. In July 2012, Mexico-based Monex Group acquired Schneider Foreign Exchange. Monex Group operated through Holding Monex and was described as a major commercial foreign-exchange provider. After the acquisition, Schneider Foreign Exchange changed its name to Monex Europe Ltd and became the European subsidiary associated with Holding Monex. The transaction represented both a change of ownership and a repositioning of the company within a broader international financial-services group. Nick Edgeley and Will Tracey remained on the Monex Europe leadership team. Sonny Schneider later became managing director of Schneider Trading Associates Limited, while Antony North went on to co-found fintech company Centtrip and serve as chief executive of Centtrip Music. Monex Europe expanded its regulated activities in January 2014 with the creation of Monex Europe Markets Ltd. The subsidiary was established to sell financial derivatives and received separate Financial Conduct Authority authorisation. This move extended the group’s European capabilities beyond conventional foreign-exchange transactions and payments. The company’s headquarters are in London, with additional offices in Madrid and Amsterdam. Its business remains focused on foreign exchange, international payments and related products for commercial and institutional users. The available reference material does not establish a complete current management list, current financial performance, or a detailed account of later strategic developments. Accordingly, the documented history is strongest for the company’s founding, regulatory milestones, acquisition by Monex and creation of its derivatives subsidiary.

• 2014

  Monex Europe Markets is launched

  [1]Monex Europeen.wikipedia.org

  A subsidiary is created to sell financial derivatives and receives separate FCA authorisation.

• 2012

  Acquisition and rebranding by Monex

  [1]Monex Europeen.wikipedia.org

  Holding Monex acquires Schneider Foreign Exchange, which is renamed Monex Europe Ltd.

• 2011

  FCA payment-institution authorisation

  [1]Monex Europeen.wikipedia.org

  The company receives Financial Conduct Authority authorisation as an Authorised Payment Institution.

• 2010

  National Business Awards finalist

  [1]Monex Europeen.wikipedia.org

  Schneider Foreign Exchange is named a finalist for the Private Company of the Year award.

• 2006

  Schneider Foreign Exchange is founded

  [1]Monex Europeen.wikipedia.org

  Sonny Schneider, Nick Edgeley, Will Tracey, Shelton Fray and Antony North establish the company in the United Kingdom.

A regulated, business-focused foreign-exchange and payments provider for companies and institutions with cross-border currency requirements.

• Foreign exchange

  Same-day foreign exchange

  Same-day currency transactions are designed for business and institutional clients requiring currency conversion and settlement within a short time frame. They form part of Monex Europe’s core foreign-exchange service offering.

• Foreign exchange

  Spot foreign-exchange contracts

  Spot contracts allow clients to agree a currency exchange at the prevailing spot market rate for near-term settlement. The product supports cross-border commercial payments and other immediate currency requirements.

• Currency risk management

  Forward foreign-exchange contracts

  Forward contracts allow eligible clients to arrange an exchange rate for a future date. They are used by organisations seeking greater certainty over the sterling or foreign-currency cost of anticipated international payments.

• Payments

  International payments

  Monex Europe provides international payment services alongside its foreign-exchange activities. The service is directed at corporate, institutional, public-sector and nonprofit users making payments across national borders.

• Derivatives · 2014

  Financial derivatives

  Financial derivatives were offered through Monex Europe Markets Ltd, a subsidiary launched in 2014. The subsidiary operated under its own Financial Conduct Authority authorisation.

• 2014

  Launch of Monex Europe MarketsProduct launch

  Background

  Monex Europe expanded beyond its core foreign-exchange and payment activities into financial derivatives.

  Action taken

  The company launched Monex Europe Markets Ltd as a subsidiary focused on selling financial derivatives and obtained separate FCA authorisation.

  Aftermath

  The group gained an additional regulated vehicle for offering derivatives in Europe.

  Source

• 2012

  Acquisition of Schneider Foreign ExchangeM&A

  Background

  Monex Group sought to expand its European foreign-exchange presence through the purchase of the United Kingdom specialist Schneider Foreign Exchange.

  Action taken

  Holding Monex acquired the company and changed its name to Monex Europe Ltd.

  Aftermath

  The business became the European subsidiary associated with Holding Monex, while Nick Edgeley and Will Tracey remained on its leadership team.

  Source

• 2014

  Monex Europe launches Monex Europe Markets[1]Monex Europeen.wikipedia.org

  Product launch · Regulation

  The company established Monex Europe Markets Ltd to sell financial derivatives under separate FCA authorisation.

• 2012

  Monex Group acquires Schneider Foreign Exchange[1]Monex Europeen.wikipedia.org

  M&A · Leadership change

  Holding Monex acquired Schneider Foreign Exchange, which was subsequently renamed Monex Europe Ltd.

• 2011

  Schneider Foreign Exchange receives FCA payment-institution authorisation[1]Monex Europeen.wikipedia.org

  Regulation

  The company was authorised by the Financial Conduct Authority as an Authorised Payment Institution.

• 2010

  Schneider Foreign Exchange named a National Business Awards finalist[1]Monex Europeen.wikipedia.org

  Other

  The company was selected as a finalist for the Private Company of the Year award.

1. 1Monex Europeen.wikipedia.org