LMAX Group is broadening the scope of its institutional FX services after announcing the acquisition of Cürex on Tuesday. LMAX Group will now start the process of integrating Cürex’s FX Business, which features class-leading execution services for foreign exchange and a compelling data analytics offering. The move is part of the LMAX Group’s ambitions to expand its services for the institutional segment and deliver a wider range of products while diversifying distribution.
LMAX Group enhances institutional FX services with Cürex acquisition
The global fintech company, headquartered in London, already has a prestigious client base featuring many of the world’s top global banks. CEO, David Mercer said bringing Cürex on board wasn’t a difficult decision due to the symmetry of the two party’s ambitions. He noted:
Cürex and LMAX Group share a common ethos of delivering transparent price discovery and efficient market structure through firm liquidity and no Last Look’ execution
Cürex has established itself as an FX heavyweight since its inception 14 years ago. One of its most prized assets is a comprehensive ECN product portfolio. This includes several standout, features including a peer-to-peer matching pool and an AI-powered pre-trade and post-trade analytics offering. It also has a burgeoning bank and buy-side client list.
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LMAX Group is hoping the merger will support its expansion in the US market, where improved technical capabilities will be key to acquiring and retaining new clients. Cürex CEO, James Singleton is also delighted with the news. He said LMAX Group’s acquisition came at the right time for the business as it looks to start a new phase of growth.
