Does 2MGFX really require XNA?

After using monogame for a while I’ve suddenly found the need to use some pixelshaders. So having decided to take the plunge decided to compile the 2MGFX project within my source tree. I get errors and find that there are 2 references to xna. Do I need to install XNA studio to compile this? I thought it was supposed to replace xna! Hopefully I’m just missing something stupid here.
Thanks in advance for any help.

Just to answer the question; “yes you do need xna”. I’ve installed xna studio which I was loathe to do and now 2mgfx compiles.