Digital platform FactSet is set to integrate LoopFX into its foreign exchange execution management system (EMS) platform – Portware, with go-live set for H1 2024.
Blair Hawthorne
The Portware platform, utilised globally by buy-side traders, is an advanced, multi-asset EMS providing access to diverse market participants and liquidity destinations.
Specifically, LoopFX’s ‘peer-to-bank’ matching engine technology is set to be embedded into Portware to allow FactSet clients to access the offering directly in the existing workflow on the desk.
Chris Matsko, head of foreign exchange trading services at FactSet, said: “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.”
Read more: FactSet on trends within buy-side trading
LoopFX serves both the buy- and sell-side, sourcing large block liquidity in a dark pool and eliminating information leakage, reducing trading costs, and improving execution processes for FX trades over $10 million. It matches asset managers and banks at an independent market mid-rate.
“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,” said Blair Hawthorne, founder and chief executive of LoopFX.
Back in July 2022, State Street partnered with FactSet to streamline data flows across the front, middle and back-office through the State Street Alpha’s data platform, promising an improved experience from client portals for equity, fixed income and multi-asset strategies.