FactSet’s FX EMS integrates LoopFX’s block trading solution

Rick Steves

“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.”

LoopFX and FactSet have unveiled plans to integrate LoopFX into FactSet’s Foreign Exchange execution management system, Portware.

Slated for early 2024, the partnership aims to seamlessly embed LoopFX’s pioneering ‘Peer-To-Bank’ matching engine technology into Portware, providing FactSet’s clients with enhanced accessibility directly within their existing workflows on trading screens.

LoopFX centralizes P2P matching with bank interest in a dark pool

Chris Matsko, Head of Foreign Exchange Trading Services at FactSet, said: “We are pleased to announce the integration of LoopFX into FactSet’s Portware Platform. 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.”

FactSet, globally recognized for its market-leading data, analytics, and technology solutions, will leverage LoopFX’s ground-breaking technology to empower clients to execute FX trades more efficiently. LoopFX, known as the venue for large spot FX trades, employs a ‘Peer-To-Bank’ model, centralizing Peer-To-Peer matching with bank interest in a dark pool. This approach eliminates information leakage and reduces trading costs, particularly for large FX trades exceeding $10 million.

The integration will position LoopFX as a pivotal player in FactSet’s Portware Platform, an advanced multi-asset Execution Management System (EMS) widely used by leading buy-side traders globally. Portware facilitates traders in analyzing, communicating, and executing orders with diverse market participants and liquidity destinations through highly efficient, customized, and automated workflows.

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.”

LoopFX also integrated into State Street’s FX Connect

It was in November 2022 that LoopFX announced the pilot phase of its peer-to-peer foreign exchange trading venue designed for large spot FX trades and offering improved execution outcomes by centralizing P2P buy-side matching with bank interest.

The startup, which is backed by John Sievwright, Ivan Ritossa, Mike Soutar, Tim Ewington, and Martin Gilbert, entered the pilot phase in December 2022. LoopFX was founded by Blair Hawthorne, who is the firm’s CEO and is developing the P2P FX trading venue after a career as an FX trader, most recently at abrdn.

In September 2023, State Street Corporation announced a strategic collaboration between FX Connect, a key component of the GlobalLink suite of e-trading platforms, and LoopFX.

  • Read this next

    Institutional FX

    Cboe to launch MSCI-based options and volatility indices

    “We are excited to expand our Cboe-MSCI toolkit with additional index options and volatility indices – an enhancement that will not only broaden our customers’ product choice, but also enrich the ways they interact with and analyze the global markets.”


    Traxys taps Quantifi for risk management in commodities trading

    “We wanted to take a more sophisticated approach to risk management and have a consolidated view of risk exposures across our global operating model. Quantifi was our preferred choice as it has a track record of success in the commodities markets.”

    Digital Assets

    Startale Labs Secures Funding for Web3 Expansion

    Startale Labs, a leader in Japan’s Web3 development, including Astar Network and Startale Web3 Cloud, has raised an additional $3.5m from UOB Venture Management and Samsung Next. This seed extension round boosts their total seed funding to $7m, following a $3.5m investment from Sony Network Communications in June 2023.

    Retail FX

    XS.com acquires South African broker Ubutyebi Financial Services

    XS.com, the multi-regulated financial services provider, has made a strategic move to expand its presence in Africa by acquiring Ubutyebi Financial Services, a licensed Financial Service Provider (FSP) in South Africa regulated by the Financial Sector Conduct Authority (FSCA).

    Digital Assets

    Hong Kong advances legislation on stablecoins and crypto trading

    Hong Kong is moving forward with legislation to regulate stablecoins and crypto over-the-counter (OTC) trading in the latest effort to develop a legal framework to service the city’s digital-asset industry.

    Digital Assets

    Do Kwon to be extradited to US as South Korea request overturned

    Terraform Labs co-founder Do Kwon is set to be extradited to the United States to face fraud charges related to massive losses suffered by U.S. investors due to its algorithmic stablecoin collapse.

    Retail FX

    Prop firm Instant Funding pauses US accounts, citing ThinkMarkets ban

    Proprietary trading firm Instant Funding has become the latest retail platform to halt onboarding new US clients, citing a recent decision by their partner broker, ThinkMarkets.

    Retail FX

    Funded Trader and Alpha Capital switch to cTrader, Lark Funding to DXTrade

    Proprietary trading firms Lark Funding and Alpha Capital have both announced changes to their operations that mainly affect their business with US clients.


    Top 5 Most Reliable KYC Technology Providers

    The financial sector’s trade evolution has led to the emergence of several financial markets that provide excellent opportunities for wealth creation. However, it has also given rise to many fraudulent organisations that attempt to steal money from traders. KYC providers developed and offered KYC technology to combat criminal activity in the field of trading and investing.