London, 30th June, 2026, LoopFX has successfully completed the market’s first bank-facilitated peer-to-peer FX trades, matched via RBC Capital Markets within State Street’s award-winning platform GlobalLINK™ FX Connect.
The milestone marks the first time asset managers have been able to match FX trades directly with each other while remaining within their existing bank relationships, workflows, and documentation.
More than 15 asset managers, representing over $25 trillion in assets under management, are now signed to use LoopFX. Similarly, over half a dozen banks are signed, with several providing liquidity to LoopFX from across their franchises.
By introducing bank intermediated peer-to-peer matching within existing execution channels, LoopFX enables asset managers to access an additional source of liquidity without any development work required to access, while maintaining the bank's central role to any transaction. The functionality is being progressively enabled across the client base commencing in July.
Blair Hawthorne, CEO and Founder of LoopFX, said:
“Asset Managers matching with other Asset Managers has long been discussed – and now it is a reality. With no changes to legal documentation, no changes to existing workflow and by positioning banks at the heart of every trade, this is a groundbreaking achievement for the market. We’re grateful to RBC Capital Markets for their role in delivering this exciting milestone, and to State Street’s FX Connect team for their continued support in bringing innovative solutions to their clients.”
Neil McClements, Head of EMEA eFX & eFutures Sales, RBC Capital Markets, said:
“Enabling new sources of liquidity within existing workflows and legal frameworks is a positive step for client execution. We’re pleased to support LoopFX and this exciting development reinforces our commitment to innovation in FX trading.”
Greg Fortuna, Senior Managing Director & Head of GlobalLINK at State Street, said:
“This development represents a practical step forward in the development of institutional FX liquidity. By enabling bank intermediated peer to peer matching within the existing FX Connect workflow, LoopFX is helping us expand the range of liquidity options available to clients while preserving the operational, credit and relationship frameworks they rely on today. We see peer to peer models as an emerging category and expect these capabilities to develop across multiple liquidity venues in response to growing client demand.”
Blair adds:
“Our focus remains on supporting our clients. Right now, that means embedding LoopFX into automated execution workflows, so the LoopFX dark pool is checked ahead of the lit market automatically. We’re also working closely with clients on new liquidity solutions and look forward to sharing more later in the year.”
ENDS
About LoopFX LoopFX is an FX liquidity network, specialising in matching large outright FX trades, providing Asset Managers and Banks with mid-point matching without information leakage. LoopFX’s founding team is led by Blair Hawthorne, Tim Johnson and John Vause, who are highly experienced in the FX markets across major institutions, including Aberdeen, CME, 360T, American Express and State Street. The Board is Chaired by John Sievwright, the former Chief Operating Officer International of Merrill Lynch, and includes Martin Gilbert, currently Chairman of Revolut and the Founder of Aberdeen Asset Management; Tim Levene, the CEO of Augmentum Fintech and Alderman of the City of London; Ivan Ritossa, Former Member of Barclays Capital Executive Committee; Mike Soutar, Member of the Government’s Board of Trade; and Tim Ewington, an investor and strategist.
