MahiFX, a financial technology provider, today announced the launch of MFX Echo, an extension of its existing algorithmic execution offering MFX Vector. The complementary tool, providing analyses for the entire trade lifecycle from in-trade and post-trade, provides valuable insights to traders and compliance departments alike.
With MFX Echo, traders are presented with a trade analysis, liquidity visualization and price-explain tool to build a narrative of what happened during the trading day. This functionality focuses on evaluating markets, help traders decide on how to work orders and analyze performance during and post-execution.
The new product assists traders in managing best execution requirements by essentially creating an audit trail and tracking every decision made during each trade. Built on Amazon Web Services cloud technology, the software also helps the trader in making the data available for detailed analysis to act accordingly.
The company explained in its statement that MFX Echo uses “a proprietary firehose streaming mechanism” to quickly replicate all available tick data from a customer’s trading system into Amazon Web Services.
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MahiFX is a New Zealand-based provider of foreign exchange solutions and other products catering to both institutional and individual clients.
MahiFX also has offices in London and is regulated by the Financial Conduct Authority (FCA). MahiFX Ltd is regulated by New Zealand’s Financial Markets Authority (NZFMA) and the Australian Securities and Investments Commission (ASIC).
The group’s three main products entail MFX Compass, an institutional e-FX engine, MFX Trade, a proprietary retail trading platform, and MFX Vector, a buy-side order management system.
One of the primary attributes of MFX Vector is its extension of benefits to additional types of clients and venues, not just tier 1 banks, given its utilization of the company’s market-making technology. In particular, MFX vector helps clients dictate control and more latitude over earning spreads, boasting a number of features such as in-depth analytics, that are aimed to bring to light more transparent execution.
Commenting on the launch, David Cooney, Co-founder and CEO of MahiFX, said: “We are excited to be able to offer this level of granularity to traders, which has previously only been available to large banks due to the high cost and complexity. MFX Echo can analyze – in detail across multiple venues – parameters such as which markets moved first, how many moved and how quickly they recovered. It can also identify highly impactful behavior such as sweeps, all with the aim of informing better trading.”