• M-DAQ Pte Ltd (formerly known as Summit Investment Pte Ltd) was founded by a group of veterans from the FX and Securities Industries with of experience averaging 15 years amongst the key members

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• We come to realise that M-DAQ solution cannot be a Single FX Bank Offering due to Credit Counterparty Risks and the fundamental Principle of Best Execution, and thus in Sep 2009 the core team went independent and marketed the solution to various top Asian Exchanges

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• The Core Team corporatised in Jan 2010, International Patent Application was filed on 13 July 2010 and 11 July 2011.
  

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• We have obtained NDAs/MOUs with a view to invest/collaborate from 8 of the Global Top 10 FX Banks, 5 Top-tiered Asia-Pacific Exchanges and an Innovation Grant from Singapore Economic Development Board

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• We plan to onboard 2 Exchanges in 2012, before venturing to Europe and North America

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• Our shareholders include a Singapore Listed Company, a Founder of a Top 10 FX House in Japan, Head of Dealing of a Top 3 Singapore Securities Firm, a Veteran Equity Trader, Founder/Chairman of a Top 3 Singapore Securities Firm, and other industry veterans.
  

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• Our current staff strength stands at 27. M-DAQ Cash Equities was launched on 31 March 2011. M-DAQ High Frequency Trading will be available in Q3'2012 and M-DAQ Derivatives in Q4'2012.
  

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• We are at present privately funded with SGD5.8 million (USD4.53 million) in fully paid-up capital but are open to additional investors who can add strategic value to our core business and/or provide linkages to our future business expansion plan. Our last round of investment values the Company at USD40 million in Aug 2010.
  

THE BUSINESS OF M-DAQ

1. M-DAQ is the IP owner and holds the key relationships with the National Exchanges and the Global FX Banks

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2. M-DAQ handles the entire consultancy work for each Exchange to be enabled on M-DAQ Solution, and provides the Exchange and the FX Consortium Banks with a license to use the M-DAQ solution. In addition, the partner Exchange will receive a 60% revenue share of the net FX margins

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3. The Exchange partners continues to operate the new cross-currency platform under existing in-country regulatory framework

THE MISSION OF M-DAQ

1. Create a World without Currency Borders™

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2. Completely disrupts the existing in-house FX desk/Broker/Custodian Bank value chain by moving the FX component upstream to be owned by the Exchange and making it pre-trade (cf post-trade)

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3. Creates brand-new revenue stream for the Exchange, dramatically reduce FX spreads for the securities investors and allowing the Exchange to diversify its investor base + attracting secondary listings in its time-zone