LoopFX has announced it will launch its pilot phase in December 2022.The company aims to be the new liquidity venue for large spot FX trades by centralising Peer-To-Peer matching with bank interest. LoopFX enables traders to identify, in real-time, matches of large trades in excess of $10 million with other buyside institutions, whilst providing banks a new means to safely show their market axes. Matches through LoopFX will execute at an independent market mid-rate, meaning both risk and cost will be reduced. Our new model is called Peer-To-Peer-To-Bank. At the heart of LoopFX’s tech stack is a unique matching engine. Built as an open architecture technology, LoopFX will integrate into current workflows on existing trading platforms, with minimal changes to legal documentation.
Blair Hawthorne, Founder and CEO of LoopFX said: “We are thrilled to be going live with our pilot launch which we believe will transform the Peer-To-Peer market. After months of speaking to more than 30 large financial institutions, and gaining significant expressions of interest, we believe we have the right solution to the problem of identifying, in real-time, the optimum counterparty when executing large spot FX trades. LoopFX improves both execution outcomes and Best Execution processes, a material improvement for all market participants.”
