See the flow before the trade
Today we learn about a need when the client calls. Tomorrow we see upcoming invoices, open positions and forecasted currency needs, currency by currency.
WHITE-LABEL FX PLATFORM
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Monex executes. Together, we see the flow before it becomes a trade.
Spreads compress. The dealer relationship commoditises. Competitors are building their software layer. An FX provider without one becomes a pipe. Monex gets a white-label FX risk platform under its own brand, connected to each client's bank accounts and ERP, priced with Monex rates through our API.
Create a cost of leaving
A spread retains no one. A client whose ERP and bank accounts are connected does not switch counterparty over two basis points.
Arm the teams
Every commercial conversation starts from client data, not from a cold call.
DELIVERED, NOT BUILT · 11 SEPTEMBER · RELEASE ONE
01 / 09
11 SEPTEMBER
We deliver the structure, not a feature set.
US
CANADA
TRADE FINANCE
TREASURY YIELD
Monex brand, Monex rates through our API. Client front end and Monex back office.
Future FX impact · upcoming FX transactions · estimated future flows by currency · forecasted needs and hedging opportunities, currency by currency · forward position monitoring · volatility scenarios and stress testing · invoice-by-invoice breakdown.
Invoices, cash flows, open positions and available cash, normalised by currency, counterparty and maturity.
Open banking across Europe and the UK, 300+ financial institutions and 1,000+ connections, plus 40 ERP and accounting systems. The client connects once.
Every layer is live on 11 September. What comes next plugs in. Nothing gets rebuilt.
FOUR LAYERS · ONE CONNECTION
02 / 09
THE PLATFORM TODAY
Not a mockup. This is the product.
The Monex white-label front end, running on live client data.
LIVE PLATFORM · MONEX BRAND
03 / 09
BACK OFFICE
Our desk sees every connected client, and the book above them.
For each connected client, the same view the client sees. Dealers and clients read the same numbers, on the same screen. Above it, four things the desk does not have today.
Aggregate unhedged exposure
By currency and maturity bucket, across all connected clients. Where demand will come from, before it arrives.
Hedge ratio per client, and its trend
Who is exposed and uncovered. A commercial priority list that generates itself.
Forecasted needs across the book
30, 60, 90 days, out to 12 months. A forward view of flow, not a report on last month.
Share of wallet, per client
Because the client's accounts are connected, we see the whole of their FX activity. The part that runs through Monex, and the part that does not.
This is the first configuration. It gets refined with the desk, not decided without it.
PER CLIENT · AND PORTFOLIO
04 / 09
OPERATIONS
What changes on Monday morning.
A dealer calls a client with a rate and hopes the timing is right. The conversation is about price, because price is the only thing on the table.
The dealer opens the book, sees which connected clients have uncovered exposure maturing in the next sixty days, in which currency and for how much, and calls with a reason. The client opens the same screen and sees the same numbers.
The conversation stops being about price and starts being about the client's own business.
ONBOARDING IS A CONNECTION, NOT A PROJECTNO INTERNAL BUILDNO CORE SYSTEM CHANGENO IT PROGRAMME
SAME SCREEN · DEALER AND CLIENT
05 / 09
CONNECTIVITY
The hard part is already connected.
Everything on this platform depends on one thing: getting a client's real financial data in, automatically, and keeping it current. That is the part that takes years to build. It is done.
300+
Financial institutions across Europe
More than 1,000 individual connections, covering bank and payment accounts through open banking. Including Deutsche Bank, HSBC, BNP Paribas, ABN AMRO, Ebury and iBanFirst.
40
ERP and accounting systems worldwide
Including SAP, Oracle, Microsoft Dynamics and Sage. This is what makes invoice-level analysis possible.
Europe and the United Kingdom are covered today. Two markets remain.
United States
Connect a data provider. Partner identified.
~3–4 weeks of API integrationCanada
Connect a data provider. Partner identified.
~3–4 weeks of API integrationOpening a country does not mean building a platform. It means plugging a country into one that exists.
CONNECTIVITY, NOT PRODUCT
06 / 09
EXPANDING MONETISATION
The same client data can originate the next products.
Two candidates, both ready to plug in. Which ones get built, and in what order, is Monex's call.
ORIGINATION SIGNAL
Invoices, maturities, counterparties and idle cash by currency. Not only FX analysis.
Trade financing
Tulyp's original business, already in operation, with broker registration in place in France. Partner financiers carry the balance sheet risk. Monex earns origination commission without taking credit risk, on clients whose invoices and maturities we already see. France first, because we already operate there. Wider after.
~3–4 weeks to plug inTreasury yield accounts
The platform already knows which cash sits idle, in which currency, for how long. That is the placement trigger. Monex earns margin on placement, and client cash stays inside the relationship instead of leaving for a bank.
~3–4 weeks to plug inOne data layer. Several revenue lines. Each new product is an integration, not a programme.
ONE ASSET · SEVERAL OUTPUTS
07 / 09
WHAT THIS REALLY IS
A development centre that requires no internal build.
Monex is not short of ideas. Testing them is what costs. Inside a forty-year-old institution with 46 offices, a new offering means an IT programme, a core system change and a budget cycle before anyone learns anything.
The structure is built and live. Testing a new offering means connecting it. Launch to a subset of clients. See real usage before committing. Drop what does not work. Scale what does.
NO INTERNAL DEVELOPMENTNO CORE SYSTEM CHANGENO IT PROGRAMMEREVERSIBLE
The roadmap follows what our desk and our clients ask for.These are integration efforts on a structure that already exists, not delivery dates. The reason we can talk in weeks is that the hard part is already built.
TEST BEFORE COMMITTING
08 / 09
ONCE IT IS LIVE
What this is.
On 11 September, Monex has a white-label FX platform live across its European and UK client base.
Underneath it, Monex has a structure. Connectivity, data, analytics, distribution, under the Monex brand, already running. New countries connect to it. New products connect to it. New offerings get tested on real clients before anyone commits a budget.
This is where Monex serves its FX clients better, and where it finds out what to sell them next.
Not a supplier with a roadmap.A development centre that is already live.
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