FactSet will integrate LoopFX technology in 2024

LONDON & NEW YORK – Financial data and analytics provider FactSet has announced a partnership with LoopFX to incorporate “peer-to-bank” matching engine technology into its Portware foreign execution management system FactSet’s Exchange (FX). The integration, expected to be completed in early 2024, is designed to streamline FactSet clients’ FX trading by embedding LoopFX’s technology directly into their existing trading workflows.

LoopFX focuses on facilitating large FX trades (typically over $10 million) by creating a dark pool that pairs asset managers with banks at established independent mid-market rates, thereby reducing transaction costs and minimizing information leakage. Integration with FactSet’s Portware platform, a widely used multi-asset execution management system (EMS), is designed to optimize execution processes for the firm’s clients, which include many of the world’s leading asset managers.

Chris Matsko, director of FX trading services at FactSet, said the company is committed to enhancing its services by partnering with innovative solutions such as LoopFX. He said the partnership highlights FactSet’s commitment to delivering the best results for its clients.

LoopFX founder and CEO Blair Hawthorne also commented on the partnership, highlighting the benefits of delivering LoopFX functionality directly within the preferred workflows of Portware’s vast user base.

Factset (NYSE: FDS | Nasdaq: FDS) is known for its comprehensive digital platform and enterprise solutions, serving nearly 8,000 customers worldwide, including nearly 190,000 individual users. The company was named one of the 2023 Best Places to Work.

As a venue for large-scale centralized spot foreign exchange trading, LoopFX combines peer-to-peer with bank interest rates in a peer-to-bank model. The company is backed by experienced forex and trading executives and entrepreneurs and is a registered trademark of Buyside Trading Solutions Limited, a UK registered company.

The announcement, based on a press release, reflects the planned collaboration between FactSet and LoopFX to enhance clients’ FX trading capabilities through technology integration.

This article was created and translated with the help of artificial intelligence and reviewed by an editor. For more information, please see our terms and conditions.