What FX HedgePool does

FX HedgePool is a New York-based institutional fintech that operated a peer-to-peer matching platform for foreign exchange swaps and forwards transactions. Founded in January 2020 by Jay Moore (CEO), Richard Leader, and Emin Tatosian (CTO), the company built a proprietary credit intermediation model that structurally separates liquidity from credit, enabling anonymous buy-side counterparty matching without traditional dealer intermediation. The platform's core technology stack pairs institutional counterparties for FX swap and forward transactions, reducing market impact, minimizing information leakage, and providing benchmark execution across weekly, monthly, quarterly, and IMM standard settlement dates. Since inception, the platform facilitated over $4 trillion in FX trades.

The company served institutional buy-side clients including asset managers, hedge funds, and corporates seeking to reduce FX trading costs and improve execution efficiency. FX HedgePool generated revenue through a transaction fee or take-rate model on matched FX trades, with pricing not publicly disclosed. Distribution was exclusively through direct enterprise field sales and relationship-driven onboarding, supplemented by industry events and earned media. In September 2022, the company raised $8 million in Series A funding led by Information Venture Partners, with Fidelity International Strategic Ventures and NAventures participating, and launched the FXHP Innovation Pool as an extension of its multi-product strategy. In October 2024, FX HedgePool was acquired by LMAX Group, integrating its institutional swaps matching service into LMAX Exchange's FX swaps offering and gaining access to LMAX's global institutional distribution network.

Name

FX HedgePool

Legal name

FX HedgePool

Website

https://fxhedgepool.com

Company type

Private

Founded year

2020

Operating status

Acquired

Headcount range

11–50 employees

Short description

FX HedgePool operates a peer-to-peer matching platform for institutional FX swap and forward transactions, using a proprietary credit intermediation model to enable anonymous buy-side counterparty matching. Founded in 2020 and acquired by LMAX Group in October 2024, it served asset managers, hedge funds, and corporates.

Ownership category

akta.pro rank

Product category

Institutional Foreign Exchange Matching Platform

NAICS

Securities and Commodity Exchanges (523210), Securities and Commodity Exchanges (52321), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

FX Swaps & Forwards Trading Venues (FSAFADAG)

akta.pro secondary industries

FX Dark Pools / Anonymous FX Crossing Networks (FSAFADAK), FX Electronic Trading Platforms (Spot/Forwards/Swaps) (FSAFANAC)

Keywords

• FX swap matching
• Institutional FX trading
• Peer-to-peer FX
• FX credit intermediation
• Foreign exchange platform

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Infrastructure, Marketing or Sales, Operations

Revenue model

1. FX Transaction/Take Rate: FX HedgePool generates revenue by facilitating peer-to-peer FX swap trades, likely earning a transaction fee or take rate on matched FX transactions. Since its inception, the platform has facilitated over $4 trillion in foreign exchange trades, indicating a transaction-based revenue model.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

FX HedgePool is a peer-to-peer matching platform for institutional foreign exchange swap and forward transactions, serving buy-side institutions such as asset managers, hedge funds, and corporates. The platform uses a proprietary credit intermediation model that separates liquidity from credit, enabling anonymous counterparty matching, reducing market impact, and minimizing information leakage. Since inception, the platform has facilitated over $4 trillion in FX trades.

Product overview

FX HedgePool operates as a peer-to-peer foreign exchange transaction platform consisting of its core matching platform and the FXHP Innovation Pool. The core platform facilitates institutional FX swaps and transactions, having processed over $4 trillion in trades since its January 2020 launch. The FXHP Innovation Pool, launched in September 2022, represents an expansion of their multi-product strategy to address broader industry challenges and enhance market efficiency. In October 2024, FX HedgePool was acquired by LMAX Group to expand LMAX's offerings in the FX swaps and forwards market.

Differentiator

Problem solved

Functional benefit

Brands

• FXHP Innovation Pool: Product launched with Series A funding to address industry challenges and improve market efficiency.

Products and services

• FX HedgePool Core Platform Peer-to-peer matching platform for institutional FX swap and forward transactions, serving buy-side institutions including asset managers, hedge funds, and corporates. Uses a proprietary credit intermediation model to enable anonymous counterparty matching, reducing market impact and minimizing information leakage.
• FXHP Innovation Pool An FX pool initiative launched to address industry challenges and improve market efficiency, designed to enhance transparency and investor performance in foreign exchange markets.

Quantifiable outcome

• Over $4 trillion in FX trades facilitated since inception in 2020

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• LMAX GroupflagshipStrategic or Co-development Partner · 1 October 2024LMAX Group, a provider of FX and digital assets trading venues, acquired FX HedgePool in October 2024. The acquisition aims to enhance LMAX's global distribution and product suite in the FX swaps and forwards market, building a cross-asset marketplace. FX HedgePool's institutional swaps matching service is integrated into LMAX Exchange's FX swaps offering, powered by LMAX's proprietary credit intermediation model.

Scale indicators3 records

Recent moves4 records

Expansion highlights5 records

Direct peers

• LMAX Exchange: Operator of a regulated multilateral trading facility for FX (spot, NDFs, swaps). Now the parent of FX HedgePool, it is the most direct comparable — same buy-side institutional clients, same all-to-all credit intermediation architecture, and the platform into which FX HedgePool's matching engine has been integrated.
• EBS (CME Group): CME Group's institutional electronic FX trading venue for spot, forwards, NDFs and metals. Directly comparable as a regulated FX electronic trading venue serving banks, hedge funds and asset managers with deep liquidity across FX swap and forward instruments.
• Refinitiv FX (LSEG): One of the largest institutional FX electronic trading networks (Matching, FXall, FXGO) operated by LSEG. Overlaps directly with FX HedgePool on all-to-all FX swap/forward execution for buy-side and corporate clients.
• CBOE FX (formerly FXall): Cboe-operated institutional FX electronic trading platform for spot, forwards, swaps, NDFs and options. Comparable as a multi-bank and direct dealer-to-client FX execution venue for asset managers and hedge funds.
• 360T (Deutsche Börse): Deutsche Börse's institutional FX trading platform serving banks, corporates and asset managers across spot, forwards, swaps and NDFs. Comparable as a regulated, multi-dealer and peer-to-peer FX execution venue with global distribution.
• Tradeweb FX: Institutional electronic trading platform operated by Tradeweb Markets covering rates, credit, equities and FX. Its FX swaps/forwards offering competes directly with FX HedgePool's all-to-all buy-side matching.
• Hotspot FX (now part of CME): Anonymous, all-to-all institutional FX ECN integrated into CME Group. Comparable as an anonymous peer-to-peer FX matching venue for buy-side clients seeking minimal information leakage.
• TraditionDATA / Tradition (TFS): Hybrid voice and electronic institutional FX and rates brokerage with all-to-all execution venues. Comparable as a buy-side FX swap/forward execution intermediary alongside traditional dealer flows.

Broad incumbents

• Bloomberg FXGO: Bloomberg's multi-bank FX execution platform embedded in the Bloomberg Terminal. Comparable as a buy-side FX swap/forward execution venue, though it is part of a much broader enterprise data and trading franchise rather than a specialist FX venue.

Others

• CLS (Continuous Linked Settlement): Operator of the dominant FX settlement infrastructure used by the FX swap and forward market. Comparable as institutional FX market infrastructure rather than a direct execution venue, addressing counterparty and settlement risk on the trades FX HedgePool matches.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/fxhedgepool

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds1 record

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about FX HedgePool