MahiFX, which revealed that it was selling its retail foreign exchange (forex) trading operations yesterday, has managed to find a buyer for its United Kingdom operations – .
As , MahiFX Group is selling its retail FX trading businesses in the United Kingdom, Australia and New Zealand, along with the licences attached to them.
When Finance Magnates reached out to MahiFX yesterday in response to the news it was selling its trading operations, a spokesperson did confirm that it already had buyers for its Financial Conduct Authority (FCA) and Australian Securities and Investments Commission (ASIC) licensed entities, with the sales expected to close in the upcoming weeks.
However, according to the , FXDD has been trading under MahiFX’s licence since the 18th of February, 2019. This suggests that FXDD is the buyer of its FCA-authorised brokerage.
Finance Magnates reached out to confirm the details displayed on the FCA register, however, MahiFX was not willing to comment.
MahiFX is Refocusing its Attention on Technology
As reported yesterday, MahiFX made the decision to sell off its retail trading businesses in order to refocus its attention on its core competency, a business-to-business technology provider for banks, brokers and financial institutions.
The strategic decision from the company comes as the retail trading industry is becoming more sophisticated and more strictly regulated, particularly in Europe, therefore, demand for high-performing analytics, greater control and differentiation of pricing is growing.
According to the statement released yesterday, it is here, that will be focusing its attention on. It will achieve this by continuing to create and provide institutional-level products that offer advanced solutions to all e-FX businesses.
Current products offered by MahiFX include its pricing and risk management engine MFX Compass, algorithmic execution command centre MFX Vector and , a trade analysis, liquidity visualisation and price-explain tool.
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