M-DAQ enters the European market with a prestigious pilot project with the Warsaw Stock Exchange
SINGAPORE, May 25, 2022 /PRNewswire/ — M-DAQ was awarded a milestone pilot with the Warsaw Stock Exchange (GPW) in Europe, to co-develop a proof of concept that will allow investors to track and potentially trade real-time prices of WIG20 and mWIG40 stocks in 10 different currencies. With this innovative solution, GPW seeks to help brokerage firms and international investors manage their Polish/European portfolios more efficiently, while broadening their investor base for companies listed on GPW.
Currently, exchange rates are determined once a transaction is executed. A multi-currency trading solution will allow investors to view, track and trade securities in multiple currencies while taking into account the risks caused by currency movements. This proof of concept marks the first step in a multi-phase collaboration between GPW and M-DAQ to eventually launch a full-fledged multi-currency trading solution that allows investors to view, track and trade Polish stocks across different currencies within a single liquidity pool.
“Partnering with M-DAQ affirms GPW’s broader mission to build an international capital center through the internationalization of its business operations. Traditional capital markets must look at trading in financial instruments through the lens of ease access for investors. Any limitations, such as the currency in which trades can be executed, through technology, will be eliminated in the near future, and WSE wants to be at the forefront of these innovations,” says Izabela OlszewskaMember of the Management Board of GPW.
M-DAQ’s patented Trading the Right Chart™ solution combines the benefits of currency transparency to provide price certainty for investors around the world to trade in their preferred portfolio currency. The solution is suitable for major global exchanges – like GPW – which deal with a wide range of international investors and stakeholders.
“M-DAQ is delighted to be the first Singapore flagship fintech company partners with GPW. Leveraging our wealth of experience partnering with stock exchanges, we will work alongside GPW to co-design a solution that would increase ease of access for investors, cementing GPW’s position as a capital hub. international. “, declares Richard KoFounder and CEO of M-DAQ.
Clarence Hoeexecutive director for the Americas and EuropeEnterprise Singapore (EnterpriseSG), said, “I would like to congratulate M-DAQ on achieving its first flagship project in the European market through its partnership with GPW. This shows how much Singapore businesses can tap into the growing demand for new digital solutions in Europe, and successfully co-develop brand new solutions with established partners in the market. EnterpriseSG is pleased to partner with M-DAQ in this endeavor, and its subsequent endeavor in Europe.”
The 10 currencies initially launched include the Swiss Franc, Euro, British Pound, Hungarian Forint, Japanese Yen, Norwegian Krone, Swedish Krona, Ukrainian Hryvnia and US Dollar.
In addition to developing new solutions in AsiaM-DAQ is excited to expand the securities market ecosystem into other regions.
For more information, please visit https://www.m-daq.com/
The Warsaw Stock Exchange Group (GPW Group) operates equity trading platforms, Ttreasury bills and corporate bonds, derivatives, power and gas, and provides indices and benchmarks including WIBOR and WIBID. Index agent FTSE Russell classifies the Polish capital market as a developed market since 2018. The markets operated by the GPW Group are the largest in Central and Eastern Europe. For more information visit www.gpw.pl.
A global specialist in foreign exchange solutions for cross-border trade, M-DAQ was founded in January 2010 with the vision of creating a world without monetary borders®. Today the 12 year old boy Singapore is one of the most valuable FinTech companies in the region and partners with the largest e-commerce and payment ecosystems in the world. In August 2021High M-DAQ 200 million Singapore dollars in its Series D funding with Asian private equity firm Affinity Equity Partners. Affinity joins a list of international strategic and financial investors, including Ant Group, EDBI, NTT Communications, Samsung and Kiwoom Shinhan.
Find out how M-DAQ is transforming a world without monetary borders at www.m-daq.com.
Follow them at www.linkedin.com/company/m-daq to follow their growth stories.
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