简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:Augmentum Fintech invests £2.6M in LoopFX, enhancing FX trading with reduced costs and better execution.
Augmentum Fintech plc, a prominent fintech fund in Europe, has disclosed a substantial investment of £2.6 million ($3.3 million) in LoopFX, a foreign exchange (FX) trading platform headquartered in London. Augmentum's decision highlights their dedication to promoting cutting-edge fintech solutions in the capital markets.
LoopFX provides a unique matching system for significant spot FX deals, allowing traders to instantly match with other asset managers and banks at mid-market prices. The platform utilizes advanced technologies to decrease trading expenses and improve the execution of trades, all while reducing the disclosure of information. LoopFX anticipates that this investment will strengthen its expansion and facilitate the advancement of its novel protocol in the foreign exchange industry.
After the investment, Tim Levene, the Chief Executive Officer of Augmentum Fintech, will become a member of LoopFX's board of directors. Levene expressed his excitement by stating that LoopFX is a perfect example of a financial technology company functioning in the capital markets in collaboration with reputable financial institutions. The board of LoopFX comprises esteemed industry experts, including John Sievwright, the former Chief Operating Officer, International, at Merrill Lynch, Martin Gilbert, the Chairman of Revolut and Founder of Aberdeen Asset Management, and Ivan Ritossa, a former executive committee member at Barclays Capital.
LoopFX's revolutionary “Peer-To-Bank” matching technology has been seamlessly included in prominent forex systems, such as State Street's FX Connect and FactSet's Portware, with great success. This technology allows traders to instantly detect and identify deals that are more than $10 million. It helps in finding matches with other institutions that are buying securities and provides banks with a safe platform to showcase their market strategies. The integration of State Street's FX Connect, which is a component of the GlobalLink suite of e-trading platforms, occurred in September 2023.
LoopFX and FactSet began their relationship early this year. The platform is compatible with Portware, a sophisticated execution management system used by prominent asset managers for handling several types of assets. The connection enables LoopFX's features to be easily accessed via FX Connect, hence automating the whole FX trading process.
Levene emphasized the significant strategic value of this investment, stating that LoopFX enhances trading and price discovery in the FX market, hence aiding market players in meeting best execution standards.
Augmentum's investment is in line with its goal of supporting rapidly expanding fintech companies that are causing significant changes in the financial services industry. Augmentum's sponsorship enables LoopFX to strengthen its market presence and provide enhanced value to consumers via ongoing innovation and refinement of its trading products.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
FXOpen adds EUR/ZAR and USD/ZAR pairs for high-volatility forex trading, giving traders access to South African markets on the MT4, MT5, TickTrader, and TradingView platforms.
The UK regulator, the Financial Conduct Authority (FCA), issued a warning against an unauthorized broker named OCTAL TRADE PRO. The FCA declared that the entity may offer or promote financial services or products without its license. The authority shared all the relevant details about this fake firm.
The Association of Tennis Professionals (ATP), a tennis group, recently announced a collaboration with OFX to boost financial services.
Learn how Nonfarm Payrolls (NFP) reports impact Forex market movements, USD currency trends, and Federal Reserve interest rates, which are crucial for traders and financial analysts globally.