LoopFX
LoopFX operates a dark pool FX matching platform that anonymously executes large spot trades (>$10M) at mid-market rates between institutional asset managers and banks. Its Peer-To-Peer-To-Bank matching engine embeds directly into leading FX execution platforms including FX Connect, Portware, and FlexFX.
- Company typePrivate
- Founded2022
- HeadquartersLondon, United Kingdom
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What LoopFX does
LoopFX is a London-headquartered fintech that operates a dark pool foreign exchange matching venue for large institutional spot FX trades. Founded in 2022, the company's core technology is a proprietary matching engine that anonymously matches asset managers and banks at independent mid-market rates for trades exceeding $10 million, eliminating information leakage and reducing execution costs relative to traditional RFQ workflows. Its distinguishing architectural choice is a Peer-To-Peer-To-Bank model that keeps banks central to matching and pays them for contributed liquidity — directly addressing the failure mode of earlier P2P FX attempts that disintermediated banks.
The platform is distributed via native, zero-development integrations into three market-leading institutional FX execution systems: State Street's FX Connect (the flagship launch channel), FactSet's Portware, and FlexTrade's FlexFX. Asset managers access LoopFX within their existing trading screens without new workflows or legal documentation changes, while banks earn revenue for liquidity matched on the venue. LoopFX generates revenue through transaction fees on each match, retaining a share after paying banks for their axes — reversing the traditional model in which banks pay venues for liquidity. Pricing is bespoke and not publicly disclosed.
LoopFX serves two institutional segments on a horizontal basis: buy-side asset managers seeking best execution without signaling risk, and sell-side banks seeking new revenue streams for their axes. At July 2025 live launch, the company had 15 fully executed agreements with asset managers and banks, including named clients Schroders, Royal London Asset Management, State Street Investment Management, and RBC Capital Markets. The company has raised £2.6 million in seed funding from Augmentum Fintech plc and is led by Founder & CEO Blair Hawthorne (ex-abrdn) with a board chaired by former Merrill Lynch COO John Sievwright and including Revolut Chairman Martin Gilbert and former Barclays Capital executive Ivan Ritossa.
LoopFX firmographics
Firmographics- Name
- LoopFX
- Legal name
- Buyside Trading Solutions Limited
- Website
- https://theloopfx.com
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- LoopFX operates a dark pool FX matching platform that anonymously executes large spot trades (>$10M) at mid-market rates between institutional asset managers and banks. Its Peer-To-Peer-To-Bank matching engine embeds directly into leading FX execution platforms including FX Connect, Portware, and FlexFX.
- Ownership category
- akta.pro rank
LoopFX industry classification
Industry- Product category
- Institutional FX Trading Infrastructure
- NAICS
- Other Financial Vehicles (52599)
- SIC
- Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- FX Matching & Aggregation Venues (Liquidity Aggregators) (FSAFADAH)
- akta.pro secondary industry
- Dark Pools (Multi-Asset) (FSAFAEAE)
Keywords
Where LoopFX is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices1 record
Markets served
LoopFX business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure
Revenue model
- Transaction / Matching Fees: LoopFX earns revenue by facilitating matches between Asset Managers and Banks. Banks receive revenue for liquidity matched in LoopFX, implying LoopFX takes a share or fee from the matching transaction. Execution occurs at a mid-market rate.
- Bank Liquidity Revenue Share: LoopFX pays banks for contributing their axes/liquidity to the dark pool, with LoopFX retaining a portion as platform revenue. This reverses the traditional paradigm where banks pay venues for liquidity.
Go-to-market motion2 records
Distribution channels3 records
Marketing channels6 records
LoopFX product offering
Product offeringCore offering
LoopFX operates a dark pool FX liquidity network that anonymously matches large spot FX trades (typically above $10 million) between institutional asset managers and banks at an independent mid-market rate. Its proprietary Peer-To-Peer-To-Bank matching engine is embedded into leading execution platforms (FX Connect, Portware, FlexTrade), allowing participants to access dark pool liquidity within their existing workflows with no changes to legal documentation.
Product overview
LoopFX is an independent FX liquidity network offering a dark pool for large outright FX trades. The core product is the LoopFX Matching Engine technology, which enables real-time, anonymous, mid-market rate matching between Asset Managers and Banks without information leakage. The platform follows a 'Peer-To-Peer-To-Bank' model that respects the FX ecosystem by keeping banks central to matching. LoopFX integrates into existing trading platforms (FX Connect, Portware, FlexTrade) as an embedded module, requiring no changes to existing workflows or legal documentation. The platform specializes in large trades in excess of $10 million.
Differentiator
Problem solved
Functional benefit
Products and services
- LoopFX Dark Pool An institutional FX dark pool that anonymously matches large offsetting spot FX trades (typically above $10 million) between asset managers and banks at an independent mid-market rate, with zero information leakage. Built on LoopFX's Peer-To-Peer-To-Bank model that keeps banks central to matching and earns them revenue for liquidity provided.
Quantifiable outcome
- Reduces execution costs for matched trades by executing at independent mid-market rate (eliminating bid-ask spread)
- +3 more outcomes
Companies that use LoopFX
Customer profileNamed customers4 records
Segments2 records
Ideal customer profiles2 records
LoopFX technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
Feature4 records
LoopFX partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core and flagship.
- SchroderscoreSchroders is one of LoopFX's launch clients, having signed a fully executed agreement and participating in live trades on the platform via FX Connect. Schroders' Head of FX Trading, Gordon Noonan, commented publicly on the value of the collaboration across industry participants.
- Royal London Asset ManagementcoreRoyal London Asset Management executed trades on LoopFX at launch via FX Connect. Senior Fixed Income and Derivatives Trader Mark Jenkins described LoopFX as providing another way to access liquidity without broadcasting trading intent.
- State Street Investment ManagementcoreState Street Investment Management participated in LoopFX's live launch as a client, with Senior FX Dealer Jamie Smith noting the value of LoopFX as an additional execution path for large FX trades within FX Connect.
- RBC Capital MarketscoreRBC Capital Markets partnered with LoopFX at launch, with Head of EMEA Multi-Asset eSales Neil McClements noting the collaboration brings enhanced liquidity in the FX dark pool space, enabling clients to execute larger trades with reduced market impact.
- FlexTrade SystemscoreFlexTrade integrated LoopFX into its FlexFX order blotter, enabling mutual clients to access LoopFX's matching functionality without development work or workflow changes. FlexTrade plans to further expand the integration using dynamic automation rules within FlexAlgoWheel to automatically check for LoopFX matches. Insight Investment is cited as a FlexTrade client using this integration.
- FactSet (Portware)coreLoopFX integrated its Peer-To-Bank matching engine technology into FactSet's Portware Execution Management System in early 2024. This provides FactSet's clients, some of the world's largest asset managers, easy access to LoopFX functionality directly on their trading screens within existing workflows.
- State Street (FX Connect)flagshipState Street embedded LoopFX's matching engine technology into its FX Connect platform, the market-leading FX execution platform. This integration allows FX Connect users to access LoopFX's dark pool liquidity within their existing trading workflows. State Street was LoopFX's first major platform integration partner and was instrumental in the July 2025 live launch.
Scale indicators4 records
Recent moves6 records
Expansion highlights5 records
LoopFX competitors and assessment
Company assessmentDirect peers
- Hotspot FX (Kx): Kx's Hotspot FX is a longstanding FX ECN and anonymous matching venue, the closest direct comparable to LoopFX in operating an FX dark pool/matching engine for institutional clients.
Broad incumbents
- 360T (Deutsche Börse): Deutsche Börse-owned 360T is a major institutional FX trading platform spanning RFQ, streaming, and matching, a broad incumbent competing for the same large FX trade flow LoopFX targets.
- EBS Market (CME Group): CME Group's EBS is one of the dominant institutional FX electronic trading platforms with deep bank and asset manager participation, directly overlapping the large-spot FX flow LoopFX serves.
- CBOE FX (formerly FXall): CBOE FX is an institutional FX trading platform offering RFQ, streaming, and algo execution across a broad institutional user base, overlapping LoopFX's asset manager and bank audience.
- LSEG FX (Refinitiv): LSEG's Refinitiv FX franchise operates Matching and FXall as institutional FX venues, providing anonymous matching at scale and competing for the same dark-pool-style liquidity LoopFX is building.
- Tradeweb: Tradeweb is a leading multi-asset electronic trading platform with an expanding institutional FX franchise, addressing the same large institutional FX execution workflows as LoopFX.
Emerging players
- BidFX: BidFX is a cloud-based FX execution management system serving asset managers and banks, competing for the same institutional FX workflow real estate that LoopFX integrates into via Portware and FlexTrade.
Others
- BestX: BestX is an FX transaction cost analytics firm founded by LoopFX board member Oliver Jerome. While not a matching venue, it addresses overlapping institutional FX best-execution workflows and shares domain leadership with LoopFX.
- Liquidnet: Liquidnet pioneered institutional dark-pool matching for equities using a similar large-block, information-leakage-reducing model that LoopFX applies to FX, making it a conceptual and methodological peer.
- FlexTrade Systems: FlexTrade is a multi-asset execution management system that integrates LoopFX within FlexFX, acting simultaneously as a key distribution partner and a broader competitor for institutional FX execution workflows.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
LoopFX social profiles
Digital presenceLoopFX compliance and trust
Trust signalCompliance1 record
LoopFX financial estimates
Financial estimateRevenue estimate
Valuation estimate
LoopFX leadership team
Management profileNumber of profiles
Profiles15 records
LoopFX funding detail
Funding detailFunding overview
Funding rounds2 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
LoopFX M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about LoopFX
What does LoopFX do?
LoopFX operates a dark pool FX liquidity network that anonymously matches large spot FX trades (typically above $10 million) between institutional asset managers and banks at an independent mid-market rate. Its proprietary Peer-To-Peer-To-Bank matching engine is embedded into leading execution platforms (FX Connect, Portware, FlexTrade), allowing participants to access dark pool liquidity within their existing workflows with no changes to legal documentation.
Is LoopFX a public or private company?
LoopFX is a private company. It is classified as venture growth investor backed and is currently operating.
When was LoopFX founded?
LoopFX was founded in 2022. It employs 11 to 50 people.
Where is LoopFX based?
LoopFX is headquartered in London, United Kingdom, in the Europe region.
How does LoopFX make money?
Two revenue lines are on record. Transaction / Matching Fees are the primary driver. The others are bank Liquidity Revenue Share.
Who are LoopFX's main competitors?
Hotspot FX (Kx) is listed as a direct peer. Broad incumbents are 360T (Deutsche Börse), EBS Market (CME Group), CBOE FX (formerly FXall), LSEG FX (Refinitiv) and Tradeweb. BidFX is listed as an emerging player. Others are BestX, Liquidnet and FlexTrade Systems.
Does LoopFX have an API?
No public API is recorded for LoopFX.
What industry is LoopFX in?
LoopFX's product category is Institutional FX Trading Infrastructure. Its primary akta.pro industry code is FSAFADAH, FX Matching & Aggregation Venues (Liquidity Aggregators), with a secondary code of FSAFAEAE, Dark Pools (Multi-Asset). Its NAICS code is 52599 and its SIC code is 6211.