James Singleton

Cürex adds bank to its Peer to Peer Matching Platform

September 2022 in News Headlines

The Cürex Group has announced the addition of Barclays to its peer to peer matching platform. Since the initial launch of its peer to peer platform in August of 2021, Cürex has grown client usage, trading volume and added connectivity to additional bank trading algorithms. With the recent addition of Barclays, Cürex’s buy side clients can now seamlessly execute their FX trades in the peer to peer pool through the trading algorithms of six major FX banks including: BNP Paribas, Credit Suisse and UBS. Cürex expects to add additional banks to its platform in the months ahead.
Through its development work with FX banks and its buy side customers, Cürex’s peer to peer platform enables the buy side to anonymously match against each other at the mid‐point derived from the FTSE Russell/Cürex benchmark rates in a no market impact environment. Buy side customers can choose to show their trading interest to the peer to peer pool through their bank algorithms which can continue to work their algo trades while gaining exposure to the Cürex peer to peer platform.

James Singleton, Cürex’s Chairman and CEO, commented, “Given the breadth of our buy side client base, it was natural for Cürex to enhance our offerings with a peer to peer platform. Our customers wanted the opportunity to trade against other institutions at a mid-point reference rate without changing their trading workflows. In collaboration with our bank partners, we are able to provide our customers access to peer to peer directly through bank algorithmic trading platforms.”