Debut of MFX Solutions Highlighted by The Seattle Times

> Posted by Kanika Metre
seattletimeslogo_homeThe July 7 debut of Microfinance Currency Risk Solutions, or MFX Solutions–an initiative to mitigate foreign exchange risk backed by ACCION’s Frontier Investments Group (FIG) and over 30 other microfinance institutions–was featured in an article published yesterday in The Seattle Times, titled “Global Partnerships invest in new currency hedge firm.”
As The Seattle Times article notes, the industry-backed initiative is the result of a three-year effort and was created to “apply modern hedging instruments to microfinance lending, analyzing and quantifying currency risk and mitigating that risk by trading among a basket of currencies.” As the political crisis continues in Honduras, it is easy to see why a company that is able to bridge the gap between microfinance investors and the risk of deprecation of foreign currencies has become increasingly vital in order to protect entrepreneurs at the bottom of the pyramid from picking up increasing transaction costs.
To see what Brian Cox, executive director of MFX Solutions, posted earlier this year on the Center for Financial Inclusion Blog about goals for the initiative in 2009, click here.
To read the full press release of the newly launched MFX Solutions, Inc., including a quote from Monica Brand, Principal Director of the Frontier Investments Group, click here.
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