Customers who have a trading account with MEX (Europe) Limited (acquisition subject to FCA approval), can have their investments secured under the FSCS Funds Protection Program. The FSCS was setup under the Financial Services & Markets Act 2000, and insures up to £50,000 per eligible claimant for financial losses in the unlikely event that the company faces any financial difficulty.
MultiBank grants trading lines on foot of Bank Guarantees or Bonds issued to it. In such a manner the Customer Funds remains with the Customers Bank Accounts and the Customer can trade with the Trading Line given by Multibank to the Customer.
Multibank offers institutional customers, brokers and banks a settlement facility to increase their level of funds security by fixing the Net Open Position Limited (NOP) on the Customers trading account. The settlement facility will facilitate the granting an agreed NOP limit with no margin check which will leverage up the trading account of the Customer and fix the NOP despite any market movements (changes to the P&L).
The Customer who uses the settlement facility will deposit a cash guarantee amount with Multibank which shall be segregated in a separate guarantee account.
Depending on the P&L statement of the Customer’s trading account, MultiBank and the Customer shall settle at the end of an agreed period according to the P&L statement. In the event the Customer does not settle the P&L in a timely manner, Multibank will use the funds in the Customers cash guarantee account to maintain the NOP of the account.