CHRISTCHURCH, New Zealand and LONDON, January 29, 2015 /PRNewswire/ --
New Zealand's financial markets regulators grant MahiFX license under new legislation governing regulated offers of derivatives
MahiFX, the foreign exchange technology provider for retail FX traders and the institutional sector, has become one of the first companies to obtain a license as a derivatives issuer from the New Zealand Financial Markets Authority (FMA) under new regulations contained in the Financial Markets Conduct Act 2013.
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MahiFX is also regulated by and fully compliant with the Australian Securities and Investments Commission (ASIC). Financial Conduct Authority (UK) approval and regulation is pending.
The FMA oversees securities, financial reporting, and company law as they apply to financial services and markets in New Zealand. As an FMA licensed derivatives issuer for regulated offers of derivatives MahiFX has demonstrated that it meets and will maintain the regulatory agency's stringent licensing provisions that include compliance with regulatory standards, capitalisation and liquidity requirements and financial reporting obligations.
"We share the FMA's aim to ensure greater fairness, efficiency and transparency in financial markets," said MahiFX and MFX Compass' CEO David Cooney. "The fallout in the industry from recent market volatility highlights the importance for strengthening the rules to provide greater transparency and protection for clients. We're very happy to sign up to that."
In accordance with both ASIC and the FMA client money rules, MahiFX segregates all retail client funds from company funds. Client funds are protected in trust accounts with the AA rated National Australia Bank Ltd (NAB).
For more information please visit https://mahifx.com and http://mfxcompass.mahifx.com/
About MahiFX
MahiFX provides retail foreign exchange clients direct access to institutional level execution speeds and spreads through its proprietary-built, fully automated pricing and risk management technology. Prices are tradeable - there are no 'from' prices, hidden costs, slippage, re-quotes or minimum trade sizes. The platform is available for desktop, web, MT4 and mobile trading.
About MFX Compass
MFX Compass provides banks and businesses with the most comprehensive and technologically advanced e-FX technology systems, connectivity, infrastructure and support required to optimise their FX trading business.
From highly optimised price formation, risk analysis, analytics and quantitative expertise to advice on distribution and calibration, MFX Compass provides rapid access to a scalable, highly-competitive 'out of the box' e-FX trading business while minimising development costs, framework complexity and time to market.
MahiFX Ltd. global operations are headquartered in Christchurch, New Zealand with offices in London, UK. The company is regulated by New Zealand's Financial Markets Authority and the Australian Securities and Investments Commission (ASIC). FCA approval and regulation is pending.
For media information please contact:
Michele McDermott-Fox
E: michele@thetopflooragency.com
SOURCE MahiFX
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