Monex adopts Schneider as European HQ

FOREIGN exchange service Monex Group yesterday planted its foot firmly in Europe with the acquisition of Schneider Foreign Exchange.

The $100m (£63.7m) deal makes Monex one of the largest deliverable commercial FX specialists in the world, turning over an annual $125bn in currency transactions.

Schneider will be renamed Monex Europe and will be the company’s headquarters on the continent, based in London.