State Street’s Market Leading FX Execution Venue, FX Connect, Enters into a Commercial Arrangement with LoopFX
12 Settembre 2023 - 8:00AM
Business Wire
- 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
State Street Corporation (NYSE: STT) announced today that FX
Connect, part of the GlobalLink suite of e-trading platforms,
technology and workflow solution that provide capabilities that
simplify and automate the entire FX trading process, has entered
into a collaboration with LoopFX, to make the LoopFX functionality
available through FX Connect.
“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 $10 million with other buyside
institutions, while providing banks a new secure channel to show
their market axes.
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 $39.6 trillion
in assets under custody and/or administration and $3.8 trillion* in
assets under management as of June 30, 2023, State Street operates
globally in more than 100 geographic markets and employs
approximately 43,000 worldwide. For more information, visit State
Street's website at www.statestreet.com.
*Assets under management as of June 30, 2023 includes
approximately $63 billion of assets with respect to SPDR® products
for which State Street Global Advisors Funds Distributors, LLC
(SSGA FD) acts solely as the marketing agent. SSGA FD and State
Street Global Advisors are affiliated.
© 2023 State Street Corporation - All Rights Reserved
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 UK registered company, and its subsidiaries.
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version on businesswire.com: https://www.businesswire.com/news/home/20230911295237/en/
Media: State Street Brendan Paul
Bpaul2@statestreet.com +1 401 644 9182
Loop FX Serra Balls serra.balls@eternapartners.com
+447775763018
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