LMAX Group Completes Acquisition of Cürex's FX Business

by Tareq Sikder
  • The strategic merger is focused on enhancing FX liquidity for its clients.
  • The new entity aims to encompass execution venues, market data, and trade analytics.
LMAX Group
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LMAX Group, an independent operator of institutional execution venues for Forex (FX) and digital assets trading, has announced the successful completion of its acquisition of the FX business of Cürex, an institutional foreign exchange execution services and data analytics company based in New York City.

This calculated maneuver unites LMAX Group and Cürex, with the aim of providing clients with a diversified institutional FX offering. The combined entity will offer an array of services, including execution venues, market data, and trade analytics.

Finance Magnates reported earlier this month that LMAX Group had announced its agreement to acquire the FX business of Cürex, a New York-based company specializing in institutional foreign exchange execution services and data analytics. This tactical decision aims to strengthen LMAX Group's institutional FX offerings, combining technical capabilities and expanding its customer base.

David Mercer, the CEO of LMAX Group, expressed his satisfaction with the acquisition: "We are pleased to complete this acquisition, which represents a new chapter for Cürex, and we welcome the team and its valued clients to LMAX Group.”

“We remain focused on broadening market access for our clients by continuing to drive efficiencies and invest in our distribution capabilities, product diversification, and trading functionality. By consolidating our industry position together with Cürex, we continue to build the leading, global institutional FX exchange and create a stronger, firm FX liquidity offering for our clients."

Strategic Merger of LMAX Group and Cürex

The merger of LMAX Group and Cürex represents a strategic move to harness the technical prowess and distribution scale of both entities. Cürex, with its establishment in 2009, brings an Electronic Communication Network product portfolio. This includes a solid pricing spot FX central limit order book, a peer-to-peer matching pool, and a platform for both pre-trade and post-trade analytics featuring real-time data analysis.

Mercer emphasized the shared commitment to transparent price discovery and efficient market structure through firm liquidity and 'no Last Look' execution. He stated: "We are constantly exploring ways to expand our product offering and diversify distribution for the institutional segment."

LMAX Group's existing institutional client base, including global banks and non-bank institutions, will be complemented by Cürex's bank and buy-side relationships. This acquisition is poised to fast-track LMAX Group's growth in the US market, enhancing its technical capabilities and customer relationships.

James Singleton, the CEO of Cürex, expressed his confidence in the combined organizations achieving success together under the leadership of LMAX Group. He noted that LMAX Group is the right business to take Cürex into the next phase of growth, following more than a decade of building Cürex.

The deal is expected to close within a month and is subject to standard closing conditions. The financial terms of the acquisition have not been disclosed.

LMAX Group, an independent operator of institutional execution venues for Forex (FX) and digital assets trading, has announced the successful completion of its acquisition of the FX business of Cürex, an institutional foreign exchange execution services and data analytics company based in New York City.

This calculated maneuver unites LMAX Group and Cürex, with the aim of providing clients with a diversified institutional FX offering. The combined entity will offer an array of services, including execution venues, market data, and trade analytics.

Finance Magnates reported earlier this month that LMAX Group had announced its agreement to acquire the FX business of Cürex, a New York-based company specializing in institutional foreign exchange execution services and data analytics. This tactical decision aims to strengthen LMAX Group's institutional FX offerings, combining technical capabilities and expanding its customer base.

David Mercer, the CEO of LMAX Group, expressed his satisfaction with the acquisition: "We are pleased to complete this acquisition, which represents a new chapter for Cürex, and we welcome the team and its valued clients to LMAX Group.”

“We remain focused on broadening market access for our clients by continuing to drive efficiencies and invest in our distribution capabilities, product diversification, and trading functionality. By consolidating our industry position together with Cürex, we continue to build the leading, global institutional FX exchange and create a stronger, firm FX liquidity offering for our clients."

Strategic Merger of LMAX Group and Cürex

The merger of LMAX Group and Cürex represents a strategic move to harness the technical prowess and distribution scale of both entities. Cürex, with its establishment in 2009, brings an Electronic Communication Network product portfolio. This includes a solid pricing spot FX central limit order book, a peer-to-peer matching pool, and a platform for both pre-trade and post-trade analytics featuring real-time data analysis.

Mercer emphasized the shared commitment to transparent price discovery and efficient market structure through firm liquidity and 'no Last Look' execution. He stated: "We are constantly exploring ways to expand our product offering and diversify distribution for the institutional segment."

LMAX Group's existing institutional client base, including global banks and non-bank institutions, will be complemented by Cürex's bank and buy-side relationships. This acquisition is poised to fast-track LMAX Group's growth in the US market, enhancing its technical capabilities and customer relationships.

James Singleton, the CEO of Cürex, expressed his confidence in the combined organizations achieving success together under the leadership of LMAX Group. He noted that LMAX Group is the right business to take Cürex into the next phase of growth, following more than a decade of building Cürex.

The deal is expected to close within a month and is subject to standard closing conditions. The financial terms of the acquisition have not been disclosed.