Augmentum Fintech Invests £2.6 Million in Forex Trading Platform LoopFX
Augmentum Fintech invests £2.6 million in Forex trading platform LoopFX (19459000)
Augmentum Fintech plc announced on Tuesday a £2.6 million investment. $3.3 million investment in LoopFX - a London-based foreign exchange company trading platform.
- The investment aims to increase forex trading efficiency and accelerate LoopFX’s growth
- The recent integration of peer to bank matching technology by leading platforms has been successful.
LoopFX secures Augmentum The background project aims to reduce the cost of forex trading
LoopFX secures investment from Augmentum Fintech
LoopFX, a unique solution designed for large forex spot trades, allows you to match your orders. Mid-market traders can match their rates with asset managers and banks in real time. The platform’s technology aims to reduce costs and improve best execution processes with minimal information loss.
Tim Levene, CEO of Augmentum, will join the board of LoopFX after the investment. Levene expressed optimism about the opportunities available in the capital markets sector in a press release: “We believe LoopFX is a prime example of a fintech partnering with blue chips to power financial institutions in the capital markets.
LoopFX’s board includes several industry veterans. John Sievwright was previously Chief Operating Officer International at Merrill Lynch and held the position of Chairman. Martin Gilbert, the current Chairman, is also on the board. Ivan Ritossa is the founder of Aberdeen Asset Management and Revolut and previously sat on the Executive Committee of Barclays Capital.
Augmentum’s LoopFX is expected to continue to grow as it develops its new protocol for the FX market. Augmentum’s new strategy is geared towards moving forward. Fintech companies that are revolutionizing the financial services sector can be a great investment.
“LoopFX FX markets can now benefit from improved trading efficiency and price discovery,” concluded Levene.
Peer-To-Bank
You can also learn more about: LoopFX has successfully integrated its Peer-To-Bank system. State Street FX has integrated the latest technology into its leading forex platform, among others. Connect FactSet Portware and FactSet.
The company claims that its products enable traders to identify large transactions over $10 million in real time, facilitate matches with other institutions on the buy side, and provide banks with a “secure channel to present their market axes”. The integration with State Street FX Connect took place in September 2023.
LoopFX functionality is now accessible via FX Connect. This platform, technology and workflow solution, part of GlobalLink’s eTrading platform suite, automates the entire FX trading process.
A collaboration with FactSet began earlier this year. LoopFX is a backer of Portware, an asset management software. Execution Leading asset managers use a management system.
Augmentum Fintech plc announced on Tuesday an investment of £2.6 million. $3.3 million investment in LoopFX – a London-based foreign exchange company trading platform.
