Ripple will provide $150 million in debt financing as part of the collaboration, which will cement stablecoin Ripple USD as a core collateral asset for LMAX’s global client base.  

The firm has said that the decision to close Cboe Europe Derivatives (CEDX) will redirect resources to other opportunities within the organisation, and will not impact Cboe’s other pan-European businesses. 

The equities and research joint venture between Societe Generale and AllianceBernstein was announced in 2024; redundancies are currently being made on a voluntary basis, The TRADE understands.

The new API offering will allow firms to “focus on their trading strategies instead of navigating the complexity of the underlying market plumbing,” Ediphy chief executive tells The TRADE.  

Credit expert has more than 23 years’ emerging markets trading experience; has also previously served at Barclays, BNP Paribas, and CIBC.

The move is an internal promotion; previous head of trading Gary Prince remains with the firm in new role. 

The offering will focus on FX and Mifid respectively and is aimed at providing deeper insights into trading behaviour.