LMAX Group Completes Acquisition of Cürex's FX Business

<p>LMAX
Group, an independent operator of institutional execution venues for 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.</p><p>This
strategic move brings LMAX Group and Cürex together, 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.</p><p><a href="https://www.financemagnates.com/">Finance
Magnates</a> 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 strategic move aims to
strengthen LMAX Group's institutional FX offerings, combining technical capabilities
and expanding its customer base.</p><p>David
Mercer, CEO of LMAX Group, expressed his satisfaction with the acquisition,
stating: "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.” </p><p>“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."</p><p>Strategic Merger of LMAX Group
and Cürex </p><p><a href="https://www.financemagnates.com/institutional-forex/lmax-group-acquires-crex-to-enhance-institutional-fx-services/">The
merger of LMAX Group and Cürex</a> represents a strategic move to harness the
technical prowess and distribution scale of both entities. Cürex, with its establishment
in 2009, brings an ECN (Electronic Communication Network) product portfolio.
This includes a firm 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.</p><p>David
Mercer, the CEO of LMAX Group, 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."</p><p>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.</p><p>James
Singleton, the CEO of Cürex, expressed his confidence in the combined
organizations achieving success together under the leadership of <a href="https://www.financemagnates.com/tag/lmax/">LMAX</a> 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.</p><p>The
deal is expected to close within a month and is subject to standard closing
conditions. Financial terms of the acquisition have not been disclosed.</p>

This article was written by Tareq Sikder at www.financemagnates.com.