DUBAI, United Arab Emirates – Feb 12, 2023 – MultiBank Group, the world's largest and most regulated financial derivatives institution, has announced the establishment of a dedicated office in New Jersey to advance the development and expansion of MEX Exchange, an ECN interbank trading and settlement platform designed for banks and financial institutions across emerging markets.
The US office marks a strategic milestone in MEX Exchange's evolution as a global institutional technology and execution provider, serving banks, hedge funds, family offices, and financial institutions that require robust infrastructure and high-quality execution.
MEX Exchange operates as a purpose-built platform for institutional trading workflows and credit intermediation, with specialized focus on emerging markets that have been underserved by Western-dominated trading infrastructure. The platform connects clients to hard-to-reach trading counterparties, fostering access to differentiated, high-quality liquidity.
Built on ultra-low latency technology delivering nanosecond execution with throughput capacity of 2.5 million trades per second, MEX Exchange combines multi-dealer ECN functionality with bilateral trading through a single connection. The platform supports spot, forwards, swaps, and non-deliverable forward (NDF) products across FX and metals, with transaction capabilities spanning Executable Streaming Prices (ESP), Request For Stream (RFS), and Request for Quote (RFQ) protocols.
MEX Exchange was developed under the direction of MultiBank Group Founder and Chairman Naser Taher and CEO David Ogg, widely recognized as the creator of the first institutional ECN through his founding of HotspotFX.
"The establishment of our US office represents the next chapter in MultiBank Group's institutional infrastructure strategy," said Naser Taher, Founder and Chairman of MultiBank Group. "MEX Exchange addresses a fundamental gap in how financial institutions across emerging markets access institutional-grade execution and liquidity. Our platform is not simply competing with existing infrastructure but is purpose-built to serve markets and participants that have been systematically underserved. This US presence strengthens our ability to deliver on that mission at global scale."
David Ogg, Chief Executive Officer of MEX Exchange, commented: "Today, nearly all existing ECNs are headquartered in the United States or the United Kingdom. We see MEX Exchange as an ECN built for the rest of the world. Designed from the ground up to serve banks and institutions that have been systematically underserved by traditional Western platforms, MEX Exchange is redefining global access to institutional markets. The launch of our US office significantly enhances our ability to deliver best-in-class technology, deep liquidity, and strong institutional relationships, positioning MEX Exchange as the preeminent ECN for emerging markets and global participants."
