LoopFX to be integrated into FactSet’s Portware trading platform
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Insights
The integration of LoopFX technology into FactSet's Portware platform represents a strategic advancement in the foreign exchange (FX) execution management system space. FactSet's move to incorporate a 'Peer-To-Bank' matching engine could potentially streamline the FX trading process for large institutional clients. By facilitating large block trades within a dark pool, LoopFX aims to mitigate information leakage which is a significant concern for asset managers and banks alike. This could lead to more efficient price discovery and reduced market impact, ultimately benefiting FactSet's clientele by potentially lowering transaction costs and improving trade execution quality.
From a financial perspective, this collaboration may enhance FactSet's competitive position in the market by differentiating its offering. The ability to execute large FX trades efficiently is critical for institutional investors and as such, this integration could attract new clients while retaining existing ones, potentially impacting FactSet's revenue streams positively. Moreover, the emphasis on reducing trading costs and improving execution processes aligns with the broader industry trend towards cost efficiency and transparency in trading operations.
The FX market is the largest financial market globally, with a vast daily trading volume. Innovations such as the one between LoopFX and FactSet are pivotal in shaping the future of FX trading. The integration of LoopFX's technology into Portware's platform may not only enhance the user experience but also provide a competitive edge in attracting buy-side and sell-side clients who are seeking advanced solutions for managing large FX transactions. As firms increasingly look for ways to leverage technology to gain efficiencies, FactSet's early adoption of such innovations could position it favorably within the EMS market.
Furthermore, the partnership could set a precedent for future collaborations between data analytics providers and niche technology firms. By combining robust data and analytics with specialized execution technologies, companies like FactSet could offer more comprehensive and sophisticated platforms, potentially reshaping market expectations and standards for EMS solutions. The industry will be watching closely to see how this integration impacts market share and influences the strategic moves of competitors.
The technical implications of LoopFX's integration into FactSet's Portware platform are significant. LoopFX's 'Peer-To-Bank' matching engine technology represents a notable innovation in the FX trading space. It's designed to source liquidity for large transactions while minimizing market impact, a technological feat that addresses a common challenge in FX markets. The integration of such a system into a widely used EMS like Portware could lead to enhanced trade execution capabilities, leveraging algorithmic strategies and advanced analytics to optimize trading outcomes for large orders.
From a technology perspective, the success of this integration will hinge on the seamless embedding of LoopFX's engine into the existing Portware system without disrupting user experience or workflow efficiency. The technical robustness of LoopFX's engine will be critical in ensuring that it can handle the scale and complexity of trades executed through FactSet's platform. This advancement could potentially set a new benchmark for EMS platforms, prompting further technological innovations in the industry.
Renowned for its market-leading data, analytics, and innovative technology solutions, FactSet will embed LoopFX's ground-breaking ‘Peer-To-Bank’ matching engine technology into Portware, providing FactSet’s clients easy access within their existing workflows directly on their trading screen.
LoopFX serves both the buy-side and sell-side by sourcing large block liquidity in a dark pool, eliminating information leakage. Matching asset managers and banks at an independent market mid-rate, LoopFX reduces trading costs and improves execution processes for large FX trades in excess of
FactSet’s Portware Platform is an advanced multi-asset Execution Management System (EMS) used by leading buy-side traders worldwide. Portware enables traders to analyze, communicate, and execute orders with diverse market participants and liquidity destinations through highly efficient, customized, and automated workflows.
“We are pleased to announce the integration of LoopFX into FactSet’s Portware Platform,” said Chris Matsko, Head of Foreign Exchange Trading Services at FactSet. “This announcement showcases FactSet’s dedication to enhancing our products by working with innovative solutions that provide the best possible outcomes to our valued clients.”
Blair
About LoopFX
LoopFX is the venue for large spot FX trades, centralising Peer-To-Peer matching with bank interest, in a model called Peer-To-Bank.
LoopFX is backed by some of the market’s most experienced trading and FX executives and entrepreneurs, including John Sievwright, Martin Gilbert, Ivan Ritossa, Oliver Jerome, Mike Soutar, and Tim Ewington. The management team is led by Blair Hawthorne, Tim Johnson, and John Vause, who are highly experienced in the FX markets across major institutions, including abrdn, CME, 360T, American Express, and State Street.
LoopFX is a registered trademark of Buyside Trading Solutions Limited, a
About FactSet
FactSet (NYSE:FDS | NASDAQ:FDS) helps the financial community to see more, think bigger, and work better. Our digital platform and enterprise solutions deliver financial data, analytics, and open technology to nearly 8,000 global clients, including almost 190,000 individual users. Clients across the buy-side and sell-side as well as wealth managers, private equity firms, and corporations achieve more every day with our comprehensive and connected content, flexible next-generation workflow solutions, and client-centric specialized support. As a member of the S&P 500, we are committed to sustainable growth and have been recognized amongst the Best Places to Work in 2023 by Glassdoor as a Glassdoor Employees’ Choice Award winner. Learn more at www.factset.com and follow us on Twitter and LinkedIn.
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Eterna Partners for LoopFX
eternapartners@loopfx.com
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Source: LoopFX
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