Mr. Naser Taher, the Chairman of MultiBank Exchange Group, announced today the restructuring of the Group under a new trademark name of "MultiBank Exchange Group" ("MEX Group"), with a new holding company based in California, USA. As part of the restructuring, the MultiBank Exchange Group also announced today the establishment of a ground-breaking Forex Exchange Communication Network, which will commence its operations on Monday 18th July 2016 under the name MultiBank Exchange. The Board of MultiBank Exchange Group has decided to undertake this momentous step in support of the new global code of conduct in the Foreign Exchange markets which was decided by a panel of 21 central banks worldwide on 23rd May 2016.
At the heart of the MultiBank Exchange is an advanced price matching engine, offering clients the ability to trade currencies with greater liquidity, speed, reliability, transparency and the highest level of market depth so as to form a complete exchange trading platform serving individuals, brokers, financial institutions and banks, which shall also involve client to client technology. In addition, Mr. Taher announced that the newly restructured Group has amalgamated its asset portfolio with 100% of the shares and assets of MultiBank Exchange Group, an online financial services group with assets in China, Hong Kong, UAE, Australia, as well as the Datong brand name, being a high-quality and well-reputed financial brand in China.
Under this restructuring, the MultiBank Exchange Group will comprise of numerous companies, which are regulated by some of the strictest regulatory bodies worldwide, with over 180,000 customers in more than 90 countries trading in excess of $3.2 billion in volume daily, having net capitalized assets in excess of $320 million, becoming one of the largest global online financial brokerage providers, operating exclusively under a new management team and corporate body headed by Mr. Taher.