FX liquidity network LoopFX has gone live after three years of development.
A total of 15 asset managers and banks have executed agreements with the company, Loop FX stated, including Schroders, Royal London Asset Management, State Street Investment Management and RBC Capital Markets.
Blair Hawthorne, CEO and founder of LoopFX, stated, “With strong early adoption and growing momentum, we are well-positioned to accelerate our growth in the institutional FX market.”
The independent trading venue is designed for large spot FX trades, providing peer-to-bank matching for traders to match with asset managers and banks in real-time. The firm states that this reduces information leakage and improves execution outcomes.
Clients’ trades are matched on State Street FX Connect.
Greg Fortuna, head of GlobalLINK at State Street, commented, “Integrating LoopFX into our FX Connect platform enhances our clients’ ability to access mid-market liquidity efficiently and securely. This collaboration supports our broader goal of delivering seamless execution workflows that help clients manage large FX trades with greater precision and reduced market impact.”
LoopFX is backed by Augementum Fintech, which invested £2.6 million in the company last June.
READ MORE: Augmentum Fintech invests in LoopFX
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