FactSet to Enhance Portware Platform with LoopFX Integration
Liquidity Finder - Sam LowJanuary 09, 2024 - LoopFX, alongside FactSet, a provider of integrated financial information and analytical applications, has announced the forthcoming integration of LoopFX into FactSet’s Portware Foreign Exchange execution management system, with the launch scheduled for early 2024.
This collaboration will see the incorporation of LoopFX’s innovative ‘Peer-To-Bank’ matching engine technology into Portware, FactSet’s platform, streamlining access for FactSet clients directly within their established trading processes.
LoopFX's service is geared towards both buy-side and sell-side entities, offering a dark pool for sourcing substantial block liquidity, thereby mitigating the risk of information leakage. It uniquely facilitates the matching of asset managers with banks at an independent market mid-rate, consequently reducing trading costs and refining the execution of large FX transactions above $10 million.
Portware, FactSet’s Execution Management System (EMS), is a sophisticated multi-asset trading platform adopted by leading institutional traders globally. The platform empowers traders with the ability to perform comprehensive analysis, engage with various market participants, and efficiently execute orders across multiple liquidity sources via tailored and automated workflows.
Chris Matsko, Head of Foreign Exchange Trading Services at FactSet, commented on the integration: “We are pleased to announce the integration of LoopFX into FactSet’s Portware Platform. 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 Hawthorne, Founder and CEO of LoopFX, expressed enthusiasm about the partnership: “We are delighted to partner with another global award-winning FX industry-leading platform. Portware is a trusted hub for some of the world’s largest asset managers whose clients now have direct access to LoopFX functionality within their preferred workflows.”
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