M-DAQ Global Partners Jakarta Futures Exchange to Boost Cross-border Trading Efficiency

‍[02 September 2024, Singapore] - M-DAQ Global Pte. Ltd. (“M-DAQ Global”), a Singapore-headquartered fintech group specialising in cross-border foreign exchange (FX) and payments solutions, announced today that it has entered a partnership with Jakarta Futures Exchange (JFX) through the signing of a Memorandum of Understanding (MoU). The MoU signing ceremony took place at the Grand Ballroom of Ritz-Carlton, Pacific Place, Jakarta on 30 August 2024, in conjunction with JFX’s 25th Anniversary celebration.

The collaboration outlined in this MoU focuses on the advanced repricing of assets into multiple currencies, especially for foreign stocks, precious metals, and commodity products. This collaboration is designed to facilitate a more seamless and efficient trading process, ensuring that market participants can conduct transactions with minimum exchange rates risk exposure while trading in the interconnected global market.

Richard Koh, Founder & Group CEO of M-DAQ Global, commented, “It is an honour to forge this partnership with JFX, and we are excited to bring our multi-currency securities technology into this collaboration. This MoU marks a pivotal step forward in advancing trading efficiency and aligns with our commitment to empowering market participants globally with the tools needed to thrive in today’s interconnected economy.”

Stephanus Paulus Lumintang, Chief Executive Officer of JFX, commented, “We are pleased to sign this MoU with M-DAQ Global, a leading financial technology firm known for its innovative solutions in cross-border FX and payment solutions including multi-currency pricing. This collaboration is made to enhance the efficiency and competitiveness of Indonesia’s futures trading industry, while also providing new opportunities to market participants in the ever-evolving global market.”