Get Custom Quotes, Info & More from Multiple Providers At Once.
LiquidityFinder
November 1, 2022

LoopFX Peer-To-Peer foreign exchange trading venue launches pilot phase

November 1, 2022 - LoopFX, a Peer-To-Peer technology company operating in the FX spot market, announced that it will launch its pilot phase in December 2022.

LoopFX 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. The new model is called Peer-To-Peer-To-Bank.

LoopFX's tech stack contains a matching engine which was built as an open architecture technology. LoopFX aims to integrate this into current workflows on existing trading platforms, with minimal changes to legal documentation.

LoopFX’s board includes John Sievwright, the former Chief Operating Officer, International, of Merrill Lynch, Ivan Ritossa, formerly an executive committee member of Barclays Capital and a foreign exchange leader, Mike Soutar who was most recently the CEO of the Evening Standard, Tim Ewington, an investor and strategist, and Martin Gilbert, currently Chairman of Revolut and the founder of Aberdeen Asset Management.

The management team is led by Blair Hawthorne Founder and CEO, a career FX trader most recently at abrdn. Simon Wilson-Taylor is Co-Founder and COO, formerly of State Street and UBS, and the CEO and Founder of Molten Markets. Timothy Johnson, Co-Founder and CCO held senior roles in American Express, 360T and CME Group. John Vause, Co-Founder and CTO is formerly of State Street, Molten Markets and CME Group.

John Sievwright, Chairman of LoopFX said: "I've been working with Blair and his team since the early days of the LoopFX concept, so it was a natural step to become Chairman and a lead investor. The executive team is top class, combining years of trader expertise with a track record of developing and implementing significant digital innovation in finance. Added to that we have a strong Board, a diverse investor base, and a dynamic new technological solution which tackles a persistent problem in the foreign exchange market. I believe LoopFX has global potential."

Ivan Ritossa, board member of LoopFX said: “It’s obvious that LoopFX will deliver significant benefits to the market as a whole. This is the first time a venue has developed a means of safely allowing market participants to tap the holy grail of the Peer-To-Peer market in FX, without disenfranchising the sellside. I know LoopFX will go from strength to strength as they move to full launch next year.”

Martin Gilbert, board member of LoopFX said: “LoopFX is a promising business with the right combination of technical understanding and excellent product and market fit in foreign exchange. I am delighted to be investing in Blair and the rest of his talented team.”

Blair Hawthorne, Founder and CEO of LoopFX said: "We are thrilled to be going live with our pilot launch which we believe will transform how large trades are executed. 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."

Categories:
Require Some Guidance in Finding The Right Provider?

Let One of Our Experts Help!

Use the LiquidityFinder Match Matrix to find the right provider for your electrionic trading business!

Get Started

LiquidityFinder

LiquidityFinder was created to take the friction out of the process of sourcing Business to Business (B2B) liquidity; to become the central reference point for liquidity in OTC electronic markets, and the means to access them. Our mission is to provide streamlined modern solutions and share valuable insight and knowledge that benefit our users.

If you would like to contribute to our website or wish to contact us, please click here or you can email us directly at press@liquidityfinder.com.

Be First To Comment.
Featured News on LiquidityFinder
Latest News on LiquidityFinder

To personalize content, provide a optimal experience, tailor and measure engagement; the browsing, navigating and the continous use of this website means you agree to the Terms of Service, Privacy Policy & Security Policy of this website. Your choices on this website will be applied globally throughout the website.

LiquidityFinder & Our Partners

Your behavior, data and actions may be utilized to offer you optimal connections and services by approved and suitable providers fitting your account requirements and website actions. When contacting providers or initiating a provider request, match matrix or expert match review we may share necessary data to evaluate your compatability with our connected partners and suitable providers.