Press Release - MahiFX founder David Cooney inducted into Profit & Loss Hall of Fame
MahiFX and MFX Compass founder David Cooney honoured with induction into Profit & Loss Hall of Fame. Accolade recognises his longstanding contributions, innovation and global leadership in the FX industry.
NEW YORK and LONDON, 30 May 2014 – MahiFX Ltd, the leading foreign exchange technology provider to the retail and institutional sectors, has today announced the induction of its CEO and Co-Founder David Cooney into the Profit & Loss Hall of Fame.
Established in 2009, the prestigious Profit & Loss Hall of Fame honours individuals who have made significant contributions to the advancement of innovation, growth and success of the Foreign Exchange (forex) industry. David Cooney was presented with the induction award at the 2014 Readers’ Choice Awards & Hall of Fame Ceremony Dinner held in New York City last night.
"The Hall of Fame was established to recognise those that have made a difference to the foreign exchange industry,” said Colin Lambert, Profit & Loss Managing Editor. “Dave Cooney is an original thinker who played a huge role in redefining how banks managed and priced risk in foreign exchange. He continues to challenge conventional thinking and as such he is a great addition to the Profit & Loss Hall of Fame."
Now head of MahiFX and MFX Compass David Cooney has spearheaded numerous FX industry firsts over two decades of interbank experience gained at key influential global investment banks.
From his early roles as an interbank spot foreign exchange broker and currency options trader at institutions such as Chase Manhattan and Credit Suisse, David then went on to Dresdner Bank and to Singapore to take charge of the currency options operations in Asia before moving back to London as Dresdner’s Global Co-head of Currency Options.
David was subsequently Global Co-Head of Currency Options and e-FX trading at Barclays Capital and co-head of the industry-renowned ecommerce platform BARX. He left Barclays Capital in 2010 to set up MahiFX alongside Co-Founder Susan Cooney, former head of e-FX Institutional Sales in Europe for Barclays Capital.
In the two short years since launch, David has lead MahiFX from being a small FinTech start-up to an award-winning FX trading platform, setting new standards and transforming the industry by offering unparalleled transparency and institutional quality technology, execution speeds and rates direct to retail FX traders.
The company continues to drive technological and structural innovation throughout the FX markets with the recent launch of MFX Compass, its e-FX offering for the institutional sector.
A pioneering and disruptive innovation in the institutional space, MFX Compass’s powerful, sophisticated, yet easy to implement e-FX technology, infrastructure and support enables banks, global liquidity providers and hedge funds to gain a competitive advantage through tapping into technology and expertise previously available to only a select few Tier 1 banks.
Institutional clients now have all the tools they need, on an external distributed innovation basis, to quickly and seamlessly establish a robust e-FX business complete with pricing, technology, analytics and support.
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.
As well as running MahiFX and MFX Compass David can be found indulging his passion for aviation - both rotary and fixed-wing.
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
Drawing on more than five decades of collective interbank experience in the disciplines of coding, quantitative analysis, trading and sales, 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, institutional clients now have rapid access to a complete, highly-competitive, best execution efficiency e-FX business, enabling them to achieve the same level of success as e-FX leading banks, at a fraction of the time and cost.
MahiFX Ltd. global operations are headquartered in Christchurch, New Zealand with offices in London, UK. The company is regulated by The Australian Securities and Investments Commission (ASIC), with FCA approval and regulation pending.
About Profit & Loss
P&L Services is a privately held publishing company specialising in financial markets business and technology information.
Introduced in 2009, the Profit & Loss Hall of Fame has grown each year to recognise individuals that have made or continue to make a difference in the Foreign Exchange industry. Inductees are not just those at the helm of some of the biggest organisations in the business; the spirit of FX is captured by honouring those that have worked hard behind the scenes, driven innovation, or consistently raised standards for the industry. For more information, visit: www.profit-loss.com
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David Cooney, CEO and Co-Founder MahiFX and MFX Compass named to Profit & Loss Magazine's Hall of Fame, 2014.