State Street Corporation (NYSE: STT) announced today (Tuesday) the partnership between FX Connect and LoopFX. With this, the functionality of LoopFX will be available through FX Connect, which is a part of the GlobalLink suite of e-trading platforms, technology, and workflow solutions, automating the entire FX trading process.

FX Connect and LoopFX Partner

The partnership resulted in the first major integration of LoopFX, established in 2021, into the institutional FX trading platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term. LoopFX is built on an open architecture technology designed to integrate into current workflows on existing trading platforms.

“As a trader myself, I know what a valuable platform FX Connect is for practitioners, and I could not be more thrilled to be working with the FX Connect team,” said Blair Hawthorne, the Founder and CEO of LoopFX.

A Promising FX Venue for Institutions

LoopFX provides a "venue for large spot FX trades by centralizing peer-to-peer matching with bank interest," a model called Peer-To-Peer-To-Bank. According to the company, its offerings enable traders to identify, in real-time, matches of large trades in excess of $10 million with other buy-side Buy-Side The buy-side is comprised of firms in the financial industry that purchase securities and are accompanied by account investment managers, pension funds, and hedge funds.The buy-side is composed of those that buy and invest large sums of securities with the intention of generating a lucrative return or have their funds managed. The Buy-Side ExplainedIn terms of Wall Street, the buy-side includes investment institutions that purchase securities, stocks, or other financial instruments with the aim The buy-side is comprised of firms in the financial industry that purchase securities and are accompanied by account investment managers, pension funds, and hedge funds.The buy-side is composed of those that buy and invest large sums of securities with the intention of generating a lucrative return or have their funds managed. The Buy-Side ExplainedIn terms of Wall Street, the buy-side includes investment institutions that purchase securities, stocks, or other financial instruments with the aim Read this Term institutions, while allowing banks a "secure channel to show their market axes."

“For more than 20 years, FX Connect has shown its willingness to adopt new approaches and work with distinctive new services we are confident will benefit our customers,” said Kate Lowe, the Head of GlobalLink FX for State Street.

“LoopFX fits well with our philosophy, and we look forward to begin seamlessly integrating the Loop FX platform into existing FX Connect workflows later this year.”

LoopFX is backed by experienced financial and FX executives as well as entrepreneurs John Sievwright, Ivan Ritossa, Martin Gilbert, Mike Soutar, and Tim Ewington.

Recently, Goldman Sachs became a member of Eurex. The American banking giant is now a clearing member and a liquidity provider for off-book transactions on the European exchange giant and will enhance FX liquidity in the continent.