State Street Corporation (NYSE:STT) announced today that FX Connect, part of the GlobalLink suite of e-trading platforms, technology and workflow solution that provide capabilities that simplify and automate the entire FX trading process, has entered into a collaboration with LoopFX, to make the LoopFX functionality available through FX Connect.
LoopFX is creating a new liquidity venue for large spot FX trades by centralizing peer-to-peer matching with bank interest. This will enable traders to identify, in real-time, matches of large trades in excess of $10 million with other buyside institutions, while providing banks a new secure channel to show their market axes.
Built as an open architecture technology, LoopFX is designed to integrate into current workflows on existing trading platforms. The integration with FX Connect is LoopFX’s first major integration to an FX trading platform.
