LoopFX and FlexTrade Connect

Dark matching service LoopFX has added FlexTrade to its list of platforms, OMS and EMS that has connected to, by integrating with the latter’s FlexFX.

The firms say the move enhances the breadth of actionable liquidity options available when executing larger trades, via LoopFX, within the FlexFX blotter. LoopFX offers dark matching at mid-point and specialises in larger trades, typically above $10 million.

Through the new initiative asset Managers can send orders directly from the FlexFX order blotter to LoopFX, with no development work or changes to their workflows. The firms add that with the data available within FlexFX, further value can be gained by sending trading performance data to FlexTrade’s transaction cost analysis tool, FlexTCA,to perform analysis to understand and further optimise execution quality.

“Having been on the buyside, I know how vital existing workflows are,” explains Blair Hawthorne, founder and CEO of LoopFX. “Any new tool must be easy to access – without that, adoption stalls. Traders don’t want more screens; they want innovation integrated into their existing systems.

“FlexTrade has joined other platforms that have listened to their clients and delivered exactly that,” he continues. “This forward-thinking approach doesn’t just benefit platforms, it strengthens the entire FX ecosystem by addressing liquidity fragmentation.”

Looking further ahead, FlexTrade says it plans to expand the integration further, combining FlexFX’s automation capabilities with LoopFX. For instance, using dynamic customisable automation rules within FlexAlgoWheel, users will be able to send trades to LoopFX to check if any fills can be matched automatically, before following predefined execution rules.

“As a buy-side participant, access to liquidity and execution efficiency are paramount for our success,” says Rich Turner, senior trader at Insight Investment. “The collaboration between LoopFX and FlexTrade will provide us with an additional tool in the toolkit to enhance execution quality, especially for larger trades, where minimising information leakage and market impact is critical.”

Uday Chebrolu, SVP – FX and digital assets at FlexTrade Systems, adds, “The FX space is continually evolving, with innovative new solutions emerging that can positively impact trading efficiency and performance. Integrating LoopFX into our platform gives our clients using FlexFX access to liquidity for large FX trades, enabling them to optimise their execution process while minimising market impact.”

Hawthorne concludes, “Following this announcement, roughly 50% of asset managers have the option to access LoopFX within their current platforms with zero development work. As more partners onboard, our network grows increasingly stronger, reinforcing LoopFX as a truly platform-agnostic liquidity solution that benefits the entire FX market. There aren’t many solutions that have the support of asset managers, banks and platforms. It’s pretty cool.”