Conversion as a Service™
CaaS is a simple to use, web-based currency conversion platform built on the back of M-DAQ’s disruptive FX technology. Clients can request for real-time quotes for their desired conversion amount and receive instant confirmation on the orders. CaaS makes FX conversion more convenient and cost-effective for all clients. Reliance on a single liquidity provider leaves you with an incomplete view and limited access to a dynamic market. On the other hand, managing multiple relationships increases operational risk and credit risk.
FX conversions are an integral part of the modern-day company. Many FX platforms on the market are complicated to use, inefficient, and do not mitigate the risk of human errors. Lack of synchronized API connectivity undermines any aspirations to automate and integrate the FX conversion process with in-house systems. Reliance on a single liquidity provider leaves you with an incomplete view and limited access to a dynamic market. On the other hand, managing multiple relationships increases operational risk and credit risk.
Sovereigns are no strangers to moving the market. Large ticket sizes are especially susceptible to information leakage and front-running, resulting in inferior prices. Traditional multi-bank platforms provide only for simple price comparison and do not offer the benefits of price compression in a multi-bank environment through algorithmic price discovery and execution. Managing multiple banking relationships increases operational complexity and credit risk exposure, resulting in higher transaction costs.
Limited market access
Reliance on a single liquidity provider leaves you with an incomplete view and limited access to a dynamic market.
Traditional multi-bank platforms provide only for simple price comparison and execution with a single provider.
Complicated platforms are inefficient, error-prone and lack API connectivity for STP automation.
CaaS is able to provide more competitive FX rates through M-DAQ’s disruptive FX technology.
Liquidity in the form of executable real-time streaming quotes from multiple liquidity providers is aggregated into a single book for a comprehensive and accurate view of the market.
COM-PLAX™ – M-DAQ’s patented VWAP price sourcing algorithm – slices trades into pieces and executes at the top of each liquidity provider’s book, achieving maximum pricing compression. This eliminates any possibility of rates manipulation and front-running by individual banks as it determines the equilibrium supply and demand prices in isolation from both parties.
With CaaS, M-DAQ has created a venue that achieves Best Execution, Efficient Price Discovery and Fair Position Allocation. This reduces transaction costs for Buy Side and increases revenue for Sell Side.
Connectivity through API is also available for integration with in-house systems to achieve Straight-Through Processing (STP).
CONVERSION AS A SERVICE™: CaaS
A bigger market
Liquidity from multiple channels is aggregated for superior access to the market compared to any single liquidity provider.
Best pricing and execution
Through COM-PLAX™, CaaS is able deliver maximum price compression without the risk of information leakage.
Optimise for efficiency
With the web-based platform and API connectivity offerings, clients can optimise their workflows to achieve best practices.