LMAX Group Enters FX Swaps with FX HedgePool Acquisition

Tuesday, 01/10/2024 | 08:40 GMT by Arnab Shome
  • FX HedgePool offers institutional swaps matching services.
  • FX swaps account for 51% of total daily FX turnover, with a turnover of $3.8 trillion per day.
LMAX Group

LMAX Group, which offers institutional execution venues for FX and digital assets trading, announced today (Tuesday) the acquisition of FX HedgePool, an institutional swaps matching service, thus further expanding its offerings in the sector. However, the financial details of the acquisition remain unknown.

LMAX Expanding with Acquisitions

The latest acquisition comes 12 months after LMAX bought the FX business of Cürex, a New York-based company specialising in institutional foreign exchange execution services and data analytics.

FX HedgePool has expertise in the FX swaps and forwards market. Its network of buy- and sell-side relationships complements LMAX's existing institutional client base in its FX business.

David Mercer, CEO, LMAX Group
David Mercer, CEO, LMAX Group, Source: LinkedIn

“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,” said David Mercer, CEO of LMAX Group.

“Following this acquisition, along with that of Cürex last year, we now have a compelling proposition for asset managers and other buy-side participants in addition to serving our core bank, broker, and proprietary trading firm segments.”

A Strategic Deal

In the official press release shared with Finance Magnates, LMAX emphasised that the acquisition of FX HedgePool is strategic and will help build a global cross-asset marketplace.

Jay Moore, CEO and Founder of FX HedgePool
Jay Moore, CEO and Founder of FX HedgePool; Source: LinledIn

The company further highlighted that FX swaps account for over half (51%) of total daily FX turnover, making them the most traded instruments, with a turnover of $3.8 trillion per day. The addition of FX swaps to LMAX’s offerings, through the acquisition of FX HedgePool, will enhance its position as an FX execution venue.

“This significant milestone for FX HedgePool and our community marks the start of a period of considerable innovation,” said Jay Moore, CEO and Founder of FX HedgePool. “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.”

LMAX Group, which offers institutional execution venues for FX and digital assets trading, announced today (Tuesday) the acquisition of FX HedgePool, an institutional swaps matching service, thus further expanding its offerings in the sector. However, the financial details of the acquisition remain unknown.

LMAX Expanding with Acquisitions

The latest acquisition comes 12 months after LMAX bought the FX business of Cürex, a New York-based company specialising in institutional foreign exchange execution services and data analytics.

FX HedgePool has expertise in the FX swaps and forwards market. Its network of buy- and sell-side relationships complements LMAX's existing institutional client base in its FX business.

David Mercer, CEO, LMAX Group
David Mercer, CEO, LMAX Group, Source: LinkedIn

“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,” said David Mercer, CEO of LMAX Group.

“Following this acquisition, along with that of Cürex last year, we now have a compelling proposition for asset managers and other buy-side participants in addition to serving our core bank, broker, and proprietary trading firm segments.”

A Strategic Deal

In the official press release shared with Finance Magnates, LMAX emphasised that the acquisition of FX HedgePool is strategic and will help build a global cross-asset marketplace.

Jay Moore, CEO and Founder of FX HedgePool
Jay Moore, CEO and Founder of FX HedgePool; Source: LinledIn

The company further highlighted that FX swaps account for over half (51%) of total daily FX turnover, making them the most traded instruments, with a turnover of $3.8 trillion per day. The addition of FX swaps to LMAX’s offerings, through the acquisition of FX HedgePool, will enhance its position as an FX execution venue.

“This significant milestone for FX HedgePool and our community marks the start of a period of considerable innovation,” said Jay Moore, CEO and Founder of FX HedgePool. “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.”

About the Author: Arnab Shome
Arnab Shome
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Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.

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