LMAX Group Acquires FX HedgePool, Expanding Into FX Swaps and Forwards

LMAX Group, a leading independent operator of institutional execution venues for FX and digital assets trading, has announced its acquisition of FX HedgePool, a prominent institutional swaps matching service. This strategic move aims to broaden LMAX Group's position in the global cross-asset marketplace.

The acquisition combines FX HedgePool's expertise in FX swaps and forwards with LMAX Group's established reputation in spot FX and non-FX asset classes. This integration is expected to enhance the Group's ability to provide a more comprehensive suite of solutions to institutions worldwide through innovative technology.

Both companies share a vision of increasing transparency, efficiency, and fairness in the FX ecosystem while improving access to institutional-grade liquidity. FX HedgePool's community of buy- and sell-side relationships complements LMAX Exchange's existing institutional client base, which includes top-tier global banks and non-banks.

The FX swaps market, accounting for over half (51%) of total daily FX turnover with $3.8 trillion traded per day according to BIS 2022 data, represents a significant expansion of LMAX Group's capabilities. This acquisition, following the purchase of Cürex last year, strengthens LMAX Group's position in serving asset managers and other buy-side participants, in addition to its core bank, broker, and proprietary trading firm segments.

David Mercer, CEO of LMAX Group, commented on the acquisition: "LMAX Group is focused on providing innovative solutions to the market, constantly exploring ways to enhance and expand our offering for institutions. We believe that with the acquisition of FX HedgePool, our combined client base will benefit from access to a wider suite of products and increased global distribution."

Jay Moore, CEO and Founder of FX HedgePool, added: “This significant milestone for FX HedgePool and our community marks the start of a period of considerable innovation. The established yet agile, LMAX Group, complements FX HedgePool's proven ability to introduce groundbreaking solutions for the modern trading desk. Both firms are aligned in delivering innovative products that set new standards for transparency, fairness and efficiency, and we look forward to an exciting future.”