LMAX Group has acquired FX HedgePool as it seeks to expand its FX offering and build into a global cross-asset marketplace.
David Mercer
Together the firms will offer a broader suite of solutions, including expertise in the FX swaps and forwards market, and spot FX and non-FX asset classes expertise.
“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, chief executive, LMAX Group.
“Following this acquisition and 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.”
LMAX Group and FX HedgePool are focused on providing greater transparency, efficiency and fairness across the FX ecosystem while providing better accesses to institutional grade liquidity, confirmed the firms.
Currently, FX swaps account for more than half of total daily FX turnover and are the most traded instrument (in excess of $3.8 trillion per day).
This deal follows LMAX’s acquisition of FX-focused execution services and data analytics provider Cürex last year.
Jay Moore, chief executive and founder of FX HedgePool, asserted that “this significant milestone for FX HedgePool and our community marks the start of a period of considerable innovation. 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.”