Augmentum Fintech Invests £2.6 Million in FX Trading Platform LoopFX

Cheapest Gadget July 4, 2024 All No Comments

Tuesday, 25/06/2024 | 07:54 GMT by

Damian Chmiel

  • The investment aims to accelerate LoopFX’s growth and improve efficiency in FX trading.
  • Recently, the company successfully integrated its “Peer-to-Bank” matching technology into leading platforms.

trading

Augmentum
Fintech plc, a European publicly listed fintech fund, announced Tuesday a £2.6
million ($3.3 million) investment in LoopFX, a London-based foreign exchange (FX)
trading platform.

LoopFX,
which offers a unique matching solution for large spot FX trades, enables
traders to match in real-time with other asset managers and banks at mid-market
rates. The platform’s technology aims to reduce trading costs and enhance best
execution processes while minimizing information leakage.

Tim Levene,
CEO of Augmentum Fintech , will join LoopFX’s board following the investment. In
a statement, Levene expressed optimism about the opportunity in the capital
markets sector, saying, “We believe LoopFX offers a textbook example of a
fintech operating in the capital markets in partnership with blue chip
financial institutions.”

LoopFX’s
board includes several industry veterans. John Sievwright, who previously
served as Chief Operating Officer, International, at Merrill Lynch, holds the
position of Chairman. The board also comprises Martin Gilbert, current Chairman
of Revolut and Founder of Aberdeen Asset Management, as well as Ivan Ritossa,
who formerly sat on the executive committee of Barclays Capital.

Augmentum’s
investment is expected to fuel LoopFX’s growth as it continues to develop its
new protocol in the FX market. The move aligns with Augmentum’s strategy of
investing in fast-growing fintech businesses that are disrupting the financial
services sector.

“LoopFX
brings efficiencies in trading and price discovery to the FX market, which in
turn will help market participants comply with best execution requirements,” Levene
concluded.

Peer-To-Bank

The
investment comes on the heels of LoopFX’s successful integration of its “Peer-To-Bank”
matching technology into leading forex platforms, including State Street’s FX
Connect and FactSet’s Portware.

According to the company, its products allow traders to identify large trades exceeding $10 million in real-time, facilitating matches with other buy-side institutions and providing banks with a “secure channel to display their market axes.” The integration with State Street’s FX Connect occurred in September 2023.

As a result, LoopFX’s functionality will be accessible through FX Connect, which is part of the GlobalLink suite of e-trading platforms, technology, and workflow solutions that automate the entire FX trading process.

Additionally, a collaboration with FactSet was established at the beginning of this year. LoopFX supports Portware, a multi-asset execution management system utilized by leading asset managers.

Augmentum
Fintech plc, a European publicly listed fintech fund, announced Tuesday a £2.6
million ($3.3 million) investment in LoopFX, a London-based foreign exchange (FX)
trading platform.

LoopFX,
which offers a unique matching solution for large spot FX trades, enables
traders to match in real-time with other asset managers and banks at mid-market
rates. The platform’s technology aims to reduce trading costs and enhance best
execution processes while minimizing information leakage.

Tim Levene,
CEO of Augmentum Fintech , will join LoopFX’s board following the investment. In
a statement, Levene expressed optimism about the opportunity in the capital
markets sector, saying, “We believe LoopFX offers a textbook example of a
fintech operating in the capital markets in partnership with blue chip
financial institutions.”

LoopFX’s
board includes several industry veterans. John Sievwright, who previously
served as Chief Operating Officer, International, at Merrill Lynch, holds the
position of Chairman. The board also comprises Martin Gilbert, current Chairman
of Revolut and Founder of Aberdeen Asset Management, as well as Ivan Ritossa,
who formerly sat on the executive committee of Barclays Capital.

Augmentum’s
investment is expected to fuel LoopFX’s growth as it continues to develop its
new protocol in the FX market. The move aligns with Augmentum’s strategy of
investing in fast-growing fintech businesses that are disrupting the financial
services sector.

“LoopFX
brings efficiencies in trading and price discovery to the FX market, which in
turn will help market participants comply with best execution requirements,” Levene
concluded.

Peer-To-Bank

The
investment comes on the heels of LoopFX’s successful integration of its “Peer-To-Bank”
matching technology into leading forex platforms, including State Street’s FX
Connect and FactSet’s Portware.

According to the company, its products allow traders to identify large trades exceeding $10 million in real-time, facilitating matches with other buy-side institutions and providing banks with a “secure channel to display their market axes.” The integration with State Street’s FX Connect occurred in September 2023.

As a result, LoopFX’s functionality will be accessible through FX Connect, which is part of the GlobalLink suite of e-trading platforms, technology, and workflow solutions that automate the entire FX trading process.

Additionally, a collaboration with FactSet was established at the beginning of this year. LoopFX supports Portware, a multi-asset execution management system utilized by leading asset managers.

Damian Chmiel

  • 1561 Articles
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Damian’s adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.

  • 1561 Articles
  • 35 Followers

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    SPEAKER: Roger Eskinazi, Managing Partner at Tickmill South Africa

    #fmas #fmas24 #fmevents #financemagnates #fintech #technology #onlinetrading #forex #investing #investors

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    Traditional investment paradigms shift in a lower interest rate environment, compelling investors to reassess their asset allocation and trading strategies. This scenario prioritizes diversification beyond conventional bonds and equities. Investors should adapt by seeking assets with the potential for higher yields, considering global markets, and employing dynamic trading strategies that leverage short-term market fluctuations, all while managing risk more meticulously to safeguard returns.

    SPEAKER: Roger Eskinazi, Managing Partner at Tickmill South Africa

    #fmas #fmas24 #fmevents #financemagnates #fintech #technology #onlinetrading #forex #investing #investors

    📣 Stay updated with the latest in finance and trading!
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