LoopFX and FactSet, a global financial digital platform and enterprise solutions provider, plan to integrate LoopFX into FactSet’s Foreign Exchange execution management system Portware in early 2024.
FactSet will embed LoopFX’s ‘Peer-To-Bank’ matching engine technology into Portware, providing FactSet’s clients access within their existing workflows directly on their trading screen.
LoopFX serves both the buy-side and sell-side by sourcing large block liquidity in a dark pool, eliminating information leakage. Matching asset managers and banks at an independent market mid-rate, LoopFX reduces trading costs and improves execution processes for large FX trades in excess of US$10 million.
FactSet’s Portware Platform is a multi-asset Execution Management System (EMS) used by buy-side traders worldwide. Portware enables traders to analyse, communicate, and execute orders with diverse market participants and liquidity destinations through efficient, customised, and automated workflows.
“We are pleased to announce the integration of LoopFX into FactSet’s Portware Platform,” said Chris Matsko, head of foreign exchange trading services at FactSet. “This announcement showcases FactSet’s dedication to enhancing our products by working with innovative solutions that provide the best possible outcomes to our valued clients.”
Blair Hawthorne, founder and CEO of LoopFX, said: “We are delighted to partner with another global award-winning FX industry-leading platform. Portware is a trusted hub for some of the world’s largest asset managers whose clients now have direct access to LoopFX functionality within their preferred workflows.”
© Markets Media Europe 2023
