Marco Polo New World, a New York and London based provider to global brokers, high frequency trading firms, and other financial institutions is pleased to announce the launch of MPFX™ – their new platform that provides 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. As the premier player in emerging and frontier markets since 2000, Marco Polo New World has spent the past year upgrading its infrastructure with the latest technologies to build a foundation on which to extend the breadth of its service offerings.
The first of these new solutions, MPFX™, 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 minimizing 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.
If you would like an opportunity to learn more about the new offering, click here.