One of the most-respected FX industry executives, Marco Baggioli, has taken on his next challenge. After taking a short break from active duty when he left ADSS in December 2017, he is joining an innovative fintech startup based in Singapore.
Earlier today Baggioli updated his LinkedIn profile to include his new position at M-DAQ Global. He will be the firm’s General Manager of Business Development and Chief of Staff. Baggioli will be based at the CEO’s Office in Singapore.
Throughout his career, Baggioli was instrumental in the development of the FX prime brokering operation of BNP Paribas, among others. Throughout the years he held a variety of senior roles at Deutsche Bank, JP Morgan, Merrill Lynch, and others.
During his most recent stint in the industry, Marco Baggioli was the Chief Operating Officer of ADSS London and later the Group’s COO in the company’s office in Abu Dhabi.
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The challenge which M-DAQ is taking on has attracted none other, but the venture capital arm of Alibaba, Ant Financial. The company is aiming to bridge the gap between businesses and capital markets to enable pricing and trading of exchange-traded products in multiple currencies.
One of the main challenges for the company is to blend executable FX rates with equities and futures contracts. With its platform, M-DAQ enables Securities Exchanges to go multi-currency without significant changes to systems and back-end processes, with low start-up and running costs.
With both static or dynamic lock-in FX rates to price foreign goods in local currencies, the company reduces FX risk. The firm also has a proprietary FX Benchmark which aims to eliminate any prospective FX rates manipulation and front-running from banks. The company’s price-sourcing algorithm determines the equilibrium between supply and demand.
M-DAQ also has a forex product for e-commerce called Aladdin and a cross-border payments solution called Hulk Pay.