Forex brokerage solutions provider MahiFX has announced the launch of its latest product, MFX Echo.
According to MahiFX, information is vital to traders and with a vast amount of data across a range of venues it is often a challenge for traders to make informed decisions. MFX Echo is a trade analysis, liquidity visualisation and price-explain tool enabling traders to evaluate markets, decide on how to work orders and analyse performance during and post execution.
Built on Amazon Web Services cloud technology, MFX Echo uses a proprietary “firehose” streaming mechanism to quickly and efficiently replicate all available tick data from a customer’s trading system into Amazon Web Services, making the data available for detailed analysis in under a second, so it can be used to inform traders of the right strategy to use for current market conditions.
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 has the ability to analyse – 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.
The product is complementary to MFX Vector, the company’s algorithmic execution offering. Once a trader has assessed market conditions and price action they can utilise MFX Vector to trade passively or aggressively using a number of sophisticated algorithms such as (DTA) Dynamic Time Algorithm and (AAS) Adaptive Aggressive Strategy. Both products are available as a white label offering.
MahiFX is a financial technology provider with a variety of institutional-level products, offering advanced solutions to all e-FX businesses at an affordable price. Alongside MFX Echo, other products offered by MahiFX include MFX Compass, a comprehensive pricing and risk management engine and MFX Vector, an algorithmic execution command centre.
MahiFX has offices in London, UK, and Christchurch, New Zealand. MahiFX (UK) Ltd is regulated by the Financial Conduct Authority (FCA) (reference no. 751019). MahiFX Ltd is regulated by New Zealand’s Financial Markets Authority (NZFMA) (FSPR no. FSP197465) and the Australian Securities and Investments Commission (ASIC) (AFSL no. 414198).