Marco Polo New World has launched MPFX, a new platform providing access to FX liquidity from both bank and non-bank sources.
The MPFX broker-neutral solution provides clients with the tightest spreads from multiple liquidity providers, and was developed in response to the demands of foreign local brokers and institutions. This matching engine and user interface allows clients to trade directly via a screen or to consume an FX data feed to get access to the highest quality liquidity and tightest spreads available in the market. By providing direct access to the markets, Marco Polo ensures it is a neutral facilitator for its clients, providing them with extremely competitive rates and reduced execution costs.
Based on a single point of access, MPFX connects clients to virtually all of the available liquidity in the market – from foreign local broker firms, global banks, non-bank liquidity providers and ECNs (electronic trading platforms).
"Our margins have significantly increased since we've started using MPFX," says Roberto Larenas, Chief Trading Officer at Casa de Bolsa de Finamex, "Our traders are able to make decisions more quickly and they have the confidence that there won't be any surprise fees to impact our margins. Plus, the range of available currencies is vast, giving us the flexibility to hedge with even more diverse portfolios than before."
Streaming more than 45 spot and non-deliverables forwards (NDFs) currency pairs, MPFX also provides impartial and anonymous execution, because Marco Polo does not maintain a proprietary trading division. Once a trade is initiated, it is immediately offset with the best execution possible. The credit counterparty is Marco Polo's prime broker, providing complete anonymity and minimising counterparty risk.
Isaac Lieberman Chief Executive Officer of Aston Capital Management – a quantitative hedge fund with an FX liquidity provisioning line of business – adds: "We really value our relationship with Marco Polo, because it brings a unique set of customers who want access to Aston Capital's deep high performance liquidity with efficient execution. Furthermore, because MPFX is available through Marco Polo's own front-end trading system and via third-party trading systems, we are able to quickly onboard various types of clients with unique liquidity in a matter of weeks versus months."
MPFX can also be accessed through a direct API (Application Programming Interface) connection to streaming liquidity provider quotes.
MPFX covers all currency pairs electronically, providing consistently tighter spreads and greater depth. Clients value the combination of the plugin solution with Marco Polo's custom tailored services, so that they can configure specific interfaces to meet their unique business requirements and proprietary trading styles.
