State Street’s Market Leading FX Execution Venue, FX Connect, Enters into a Commercial Arrangement with LoopFX
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- State Street’s FX Connect business and LoopFX have agreed to collaborate on an integration to make the LoopFX functionality available through FX Connect
- LoopFX will enable traders using FX Connect to identify, in real-time, matches with other buyside institutions and versus Bank axes
“For more than 20 years, FX Connect has shown its willingness to adopt new approaches and work with distinctive new services we are confident will benefit our customers,” said Kate Lowe, head of GlobalLink FX for State Street. “LoopFX fits well with our philosophy and we look forward to begin seamlessly integrating the Loop FX platform into existing FX Connect workflows later this year.”
LoopFX is creating a new liquidity venue for large spot FX trades by centralizing peer-to-peer matching with bank interest. This will enable traders to identify, in real-time, matches of large trades in excess of
Built as an open architecture technology, LoopFX is designed to integrate into current workflows on existing trading platforms. The integration with FX Connect is LoopFX’s first major integration to an FX trading platform.
Blair Hawthorne, Founder and CEO of LoopFX said: “As a trader myself, I know what a valuable platform FX Connect is for practitioners and I could not be more thrilled to be working with the FX Connect team.”
About State Street
State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With
*Assets under management as of June 30, 2023 includes approximately
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About LoopFX
LoopFX is the venue for large spot FX trades, centralising Peer-To-Peer matching with Bank axes, in a model called Peer-To-Peer-To-Bank.
LoopFX is backed by some of the market’s most experienced financial and FX executives and entrepreneurs, including John Sievwright, Ivan Ritossa, Martin Gilbert, Mike Soutar, and Tim Ewington. The management team is led by Blair Hawthorne, Tim Johnson, Simon Wilson-Taylor, and John Vause, highly experienced in the FX markets across major institutions, including abrdn, CME/EBS, 360T, American Express, UBS, and State Street.
LoopFX is a registered trademark of Buyside Trading Solutions Limited, a
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State Street
Brendan Paul
Bpaul2@statestreet.com
+1 401 644 9182
Loop FX
Serra Balls
serra.balls@eternapartners.com
+447775763018
Source: State Street Corporation