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By James Blacker, Benzinga
As trading platforms become more sophisticated with fast execution times, advanced analytics capabilities and modern user experiences, brokerages face increasing pressure to innovate and invest in their infrastructure if they want to attract and retain clients.
For over 20 years, mF International Limited (NASDAQ:MFI) has been serving brokerages and financial institutions with its robust suite of financial trading solutions catering to the forex, bullion and commodity markets.
Through its Hong Kong-based subsidiary, m-FINANCE, the company reports that it is making a name for itself as one of Asia’s leading trading service providers. It is now seeking to expand globally, having completed its initial public offering and listing on the Nasdaq in April 2024.
Helping brokerages to stay competitive, m-FINANCE provides state-of-the-art forex/bullion trading platforms, innovative one-stop trading solutions, financial value-added services, mobile apps and financial information.
Trading Solutions
m-FINANCE’s flagship product is its mF4 Trading Platform Solution, a turnkey solution designed specifically for forex and bullion brokerage firms. The platform, which is compatible with Financial Information Exchange (FIX) protocol, includes four modules that offer a one-stop management system for brokers.
The Front, Middle and Back Office modules provide the tools to easily monitor and execute trades, manage risks, open accounts and oversee business operations. The Pricing Engine, meanwhile, supports real-time price stability and accuracy with features such as integrated data feed connections, error quote filtering and automatic data feed switching during disruptions. It also includes preset price templates tailored to various market conditions, such as non-farm payrolls or slower markets.
Complementing the trading platform is m-FINANCE’s Forex Customer Relationship Management (CRM) system, which offers an efficient way for brokerage firms to manage introducing brokers and clients. Integrating with its trading platforms, the company believes that the cloud-based CRM system can help reduce costs and boost client retention by simplifying and standardizing operations.
m-FINANCE’s trading solutions extend to liquidity services that enable brokers to send their clients’ orders to liquidity providers. Using a Straight Through Processing solution, brokers have access to fully automatic hedging, giving them the flexibility to freely switch between A-Book and B-Book modes – helping to control risks and maximize profits.
Rounding out m-FINANCE’s trading products is its suite of four mobile apps that enable clients to leverage the modern trend of mobile trading. The Trader Pro app, for example, includes sentiment indicators, real-time news and flexible ad placement options. Other apps include Copy Master, which provides the tools for brokers to develop their own copy trading platform, social trading app MarketMaster as well as the MarketWatch app, which provides 24/7 forex and bullion news, real-time charts and other financial data.
Other Trading Services
The company, through its subsidiary, m-FINANCE, has a host of other trading services ranging from its automated ECN System, which matches buy and sell orders from different market participants, an Electronic Identity Verification Solution, Cross Platform Solutions, Interactive Charts and other value-added services.
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Margin Growth In A Challenging Environment
The company announced its financial results for the fiscal year ended December 31, 2023, in May 2024, with CEO Chi Weng Tam noting that the firm has shown resilience despite facing significant macroeconomic uncertainties.
Financial highlights for the year are as follows:
Revenue for the fiscal year ended December 31, 2023, decreased by 8.5%, from approximately HK$3.5 million (approximately US$4.5 million) for the fiscal year ended December 31, 2022, to approximately HK$32.0 million (approximately US$4.1 million). This was partially offset by an increase in revenue derived from (i) initial setup, installation and customization services; (ii) white label services; and (iii) hosting, support and maintenance services.
Revenue from subscriptions was approximately HK$11.4 million (approximately US$1.5 million) for fiscal year 2023, up 0.3% from approximately HK$11.4 million (approximately US$1.5 million) for fiscal year 2022.
Revenue from hosting, support and maintenance services was approximately HK$4.3 million (approximately US$0.6 million) for fiscal year 2023, up by 3.6%, from approximately HK$4.2 million (approximately US$0.5 million) for fiscal year 2022.
Revenue from white label services was approximately HK$2.1 million (approximately US$0.3 million) for fiscal year 2023, up by 12.3% from approximately HK$1.9 million (approximately US$0.2 million) for fiscal year 2022.
Gross profit fell 2.5% to approximately HK$18.0 million (approximately US$2.3 million) for fiscal year 2023, compared with fiscal year 2022.
Gross profit margin for fiscal year 2023 was 56.2%, up from 52.7% for fiscal year 2022.
Net income in fiscal year 2023 fell 3% to approximately HK$6.6 million (approximately US$0.8 million) in fiscal year 2023.
Basic and diluted earnings per share fell 3% in fiscal year 2023 to approximately HK$0.572 (approximately US$0.073) in fiscal year 2023.
Going forward, the company has stated that it is committed to further enhancing its service offerings and pursuing research and development to solidify its market position. In particular, the company hopes that its recent listing on the Nasdaq will boost its global competitiveness and position it well for future expansion.
Mr. Chi Weng Tam, Executive Director and CEO of the company, commented, "Despite facing significant macroeconomic uncertainties, we have improved our gross profit margin and enhanced our service offerings in a challenging environment, particularly with respect to customization and support services, which have seen robust growth. The slight decrease in overall revenue is largely attributable to strategic adjustments in our service portfolio. We believe that our focus on innovation and operational efficiency has enabled us to maintain a strong financial position.”
Check out the company’s investor relations website here.
Featured photo by Austin Distel on Unsplash.
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