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Interbank trading venue MultiBank Exchange (@mex-exchange), part of Dubai-based financial derivatives group MultiBank Group (@multibankgroup), has unveiled what it describes as the world’s first interbank trading platform to offer double exotic currency pairs with settlement in both fiat currencies and digital assets.
The platform connects more than 30 tier-one banks and liquidity providers and handles daily trading volumes of up to US$21 billion (AED 77 billion), according to the company. Its matching engine operates at 400 nanoseconds, which the company says is the fastest in interbank trading history. MultiBank Group also says the platform is the first in interbank trading to offer credit and settlement services to all of its counterparties.
The platform was unveiled during Dubai Future Finance Week, where MultiBank Group was a co-host sponsor and met clients and institutional partners to discuss the platform’s capabilities and opportunities for participation.
Access For Emerging Market Institutions
MultiBank Exchange is designed to connect banks and financial institutions across the GCC, BRICS and other emerging markets with Western trading technology and global liquidity. The aim is to allow these institutions to take part in international FX markets on an equal footing with their Western counterparts.
“MultiBank Exchange represents a significant expansion of the Group’s role in institutional financial markets. We are bringing together the technology, liquidity and settlement infrastructure that institutions need to participate more effectively in global trading. Our ambition is to address access barriers across emerging markets and build stronger connections between these markets and the international financial system. Dubai Future Finance Week provides an opportunity to discuss this directly with clients and prospective partners.” - Naser Taher, Founder and Chairman, MultiBank Group
Execution, Credit And Settlement
According to the company, MultiBank Exchange is the first interbank trading platform in emerging markets to support settlement in crypto digital assets. It combines institutional liquidity with settlement services through MultiBank Group’s regulated subsidiaries in Australia, Singapore and the UAE, an integrated offering the company says is unique among interbank trading exchanges.
“The technical focus is on connecting execution with the credit and settlement arrangements required to complete a transaction. Our matching engine operates at 400 nanoseconds, while the platform brings together pricing from multiple institutional liquidity providers. Support for double exotic currency pairs, alongside fiat and digital asset settlement, extends the options available to counterparties trading across different markets.” - Mohammed Al Hakim, Vice Chairman, MultiBank Group
The platform serves banks, financial institutions, hedge funds, family offices and derivatives brokers, and offers access to more than 250 currencies. MultiBank Group says it is the only financial derivatives institution that supplies its own liquidity to its trading platforms.
MultiBank Exchange has also signed a memorandum of understanding with the Government of Kazakhstan, opening the way for interbank settlement in digital currencies as part of a wider aim to link conventional FX markets with digital settlement infrastructure.
MultiBank Exchange Holding Board
Alongside the launch, MultiBank Group announced the Board of Directors of MultiBank Exchange Holding, chaired by Founder and Chairman Naser Taher. The other board members are:
• H.H. Sheikh Juma bin Maktoum bin Juma Al Maktoum, Board Member
• H.E. Sheikh Mohammed bin Saqr bin Rashid Al Nuaimi, Board Member
• H.E. Mohammed Al Hakim, Vice Chairman
• H.E. Ali bin Khalid bin Zayed Al Falasi, Board Member
• H.E. Rashid Sultan Al Malik, Board Member
• Mr Majid Al Ghaslan, Board Member
MultiBank Group was founded in California in 2005 and reports more than 2 million clients across 100 countries, daily trading volume above US$35 billion and regulation by 18+ financial authorities across five continents. LF has previously covered senior commercial hires at MEX Exchange, including Brian Liedberg and Stuart Peck and Vibhanshu Bahuguna.
Connect with MEX Exchange
Looking to discuss your institutional requirements? Visit MEX Exchange on LIQUIDITYFINDER and send a direct enquiry to its sales team through the form on its profile.
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