MAXF's business doesn't depend on high rates or low rates; they benefit when institutions want to buy and sell various derivatives and other financial instruments that hedge their current and future positions.
So theoretically, any major change in rates, markets, currencies, etc. helps business because MAXF's clients will be looking for advice on how to protect against those fluctuations.
But short-term market conditions really aren't a major factor in the MAXF value issue. Their niche works whether markets go up or down.