MahiFX announced this Wednesday that it has launched a new website, in order to reflect the progression of the company’s brand, as it moves away from its retail trading operations in the foreign exchange (forex) space.
Towards the end of last year, MahiFX announced that it would be closing its trading platform as part of the company’s strategy to refocus as a business-to-business technology provider for banks, brokers, and financial institutions.
MahiFX refocuses as a technology provider
Under the new website, MahiFX is instead establishing itself as a technology provider, as the company has been crafting eFX solutions for banks and brokers since 2010, which is now the company’s focus.
As Finance Magnates reported exclusively, today’s announcement is the result of the New Zealand and Australian regulated FX brokerage being acquired by LGT Solutions Ltd, which led to the closure of its trading platform and company transition.
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Commenting on the changes, Susan Cooney, Co-Founder said in the statement: “The new website centres on both our technology as well as our people, because this is one of the things that sets us apart. Whilst technology is very important, the insight on how to use it intelligently is vital.
“The market has become increasingly challenging. In the past it was possible to just install technology, aggregate pricing and run an e-FX business – this is no longer the case. Our role is looking at the problems clients are facing, diagnose issues and ensure they are then armed with the technology and know-how to solve those issues.”
“We focus on optimising PnL through our automated market making and risk system, as well as providing clients with a powerful analytical system. Users can delve into a range of enquiries around pricing, hedging and client activity, giving them fantastic visibility on their trading…”
As Finance Magnates reported, last year, MahiFX revealed that it was selling its regulatory licenses in the United Kingdom, Australia, and New Zealand. The UK operations of the Group was acquired by FXDD, an institutional and retail forex broker.