TTT Moneycorp

Company overview

TTT Moneycorp Ltd (trading as Moneycorp) is the second-largest foreign exchange broker in the UK ^[1]. It serves 2.8 million customers and trades more than £11 billion in currencies per year, and is the only ISO-certified organisation in its industry sector^[2]. Incorporated in 1962, the company started dealing foreign exchange in 1979 and is structured into three trading divisions: Bureau de Change, Commercial Foreign Exchange (CFX) and Wholesale Banknotes. The company has 600 employees and is headquartered at 2 Sloane Street in Knightsbridge, London. It has three further office locations in London – Piccadilly, Brompton Road and Victoria – and operates offices in the US, Spain and Australia.^[3]

Current chairman Bassam Shlewet has led the development of the company since 1979. The Royal Bank of Scotland (RBS) Special Opportunities Fund is a significant shareholder in the Group. It purchased an undisclosed stake from the Shlewet Family Trust, which controls the company, in December 2006.^[4] ^[5]

In 1996, Moneycorp’s quality management system was certified to ISO 9002:1994 and is now certified to the latest version – ISO 9001:2008.^[6]

As of 1 November 2009, Moneycorp is authorised and regulated by the Financial Services Authority for the provision of payment services.^[7] Its FSA registration number is 308919.^[8] TTT Moneycorp is also registered as a Money Service Business with Her Majesty's Revenue & Customs (HMRC) under the Money Laundering Regulations, registration number 12114128.

In addition, Moneycorp is authorised and regulated by the FSA in the conduct of designated investment business:^[9]

agreeing to carry on a regulated activity;
advising on investments (except on pension transfers and pension opt-outs)*;
arranging (bringing about) deals in investments*;
dealing in investments as an agent*;
dealing in investments as principal*;
making arrangements with a view to transactions in investments*.

The investment instruments for which Moneycorp is authorised are as follows:

futures (excluding commodity futures and rolling spot foreign exchange contracts)
options (excluding commodity options and options on commodity futures)
rolling spot foreign exchange contracts

Trading Divisions

Bureau de Change

Moneycorp obtained a licence from the Bank of England to operate bureaux de change in Central London in April 1979. The company operates 27 bureaux de change in total.^[10]

Moneycorp Retail Branch Network
	London	London Stansted	London Gatwick	Southampton
Brand names	TTT Foreign Exchange Corporation The Money Corporation	Moneycorp	Moneycorp	Moneycorp
Date established	1979	November 2004	April 1993	January 2009
Number of branches	8 total	8 total	10 total^[11]	1 total
Location of branches	1 Brompton Road 4 Sloane Street Knightsbridge Tube Station 291 Oxford Street 369a Oxford Street 18 Piccadilly 35 Piccadilly 113 Gloucester Road	5 branches landside: 4 in Check-In Area 1 in Arrivals Area 3 branches airside: 2 in Departure Lounge 1 in Baggage Reclaim	6 branches in South Terminal: 3 in Check-In Area (landside) 1 in International Departure Lounge – Lower Level (airside) 1 in International Departure Lounge – Upper Level (airside) 1 in Baggage Reclaim (airside) 5 branches in North Terminal: 1 in Check-In Area (landside) 1 in “The Avenue” (shopping) Level (landside) 1 in International Departure Lounge – Lower Level (airside) 1 in International Departure Lounge – Upper Level (airside) 1 in Baggage Reclaim (airside)	Check-In Area (landside)

Commercial Foreign Exchange (CFX)

Established in 1999, the CFX division provides foreign exchange to businesses and individuals, with spot and forward currency delivery, currency options and priority worldwide payments. The main CFX trading floor is located at 100 Brompton Road, and a further office is based in Victoria.

Wholesale Banknotes

The Wholesale Banknotes division provides foreign currency and sterling to businesses and FX providers in the Greater London area. Clients are split across several categories, including: banks, bureaux de change, government bodies, high-street retailers, money transfer businesses and corporate clients.

Company Name

The company that is now TTT Moneycorp was originally called 'David Leslie Jewellers Limited', which traded in bullion jewellery from a premises on Oxford Street. In 1979, Bassam Shlewet purchased the company for the purpose of obtaining its Bond Street location. After the granting of a licence from the Bank of England to trade in foreign currencies, the company name was changed to TTT Foreign Exchange Corporation.

TTT was originated from “Towns, Tickets and Tours”, a company name used for a short while to satisfy planning requirements that retail products were sold alongside FX services. Full planning permission was subsequently obtained to use the shop solely as a bureau de change. 'TTT' was dropped from the trading name as part of a rebrand in 2008.^[12]

References

External links

[1] According to numbers taken from Companies House on 1 November 2010

[2] ttps://www.moneycorp.com/About-us/Key-facts/

[3] ttps://www.moneycorp.com/About-us/Contact-us/

[4] ttps://www.ttt.co.uk/rbs_pr.cfm

[5] ttps://www.pwc.co.uk/pdf/TTT_moneycorp.pdf

[6] ttps://www.moneycorp.com/About-us/Key-facts/

[7] ttps://www.fsa.gov.uk/register/psdFirmBasicDetails.do?sid=122958

[8] ttps://www.fsa.gov.uk/register/psdFirmBasicDetails.do?area51=true&sid=122958

[9] ttps://www.fsa.gov.uk/register/firmPermissions.do?sid=122958

[10] ttps://www.moneycorp.com/Personal/Travel-money/Bureau-de-Change/

[11] ttps://www.gatwickairport.com/shopping/ttt-money-corp/

[12] ttps://www.tothepoint.co.uk/work/literature/moneycorp.html

[1]

[2]

[3]

[4]

[5]

[6]

[7]

[8]

[9]

[10]

[11]

[12]