LMAX Group Acquires Cürex to Enhance Institutional FX Services

<p>LMAX Group,
a leading independent operator in institutional FX and digital assets trading,
has 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. The acquisition aims to strengthen LMAX Group's
institutional FX offerings by integrating Cürex's technical capabilities and
expanding its customer base.</p><p>A Strategic Move for LMAX
and Cürex</p><p>The merger
of <a href="https://www.financemagnates.com/tag/lmax/" target="_blank" rel="follow">LMAX Group</a> and <a href="https://www.financemagnates.com/tag/curex-group/" target="_blank" rel="follow">Cürex </a>is a strategic move that combines both companies'
technical prowess and distribution scale. This collaboration aims to offer a
more robust and diversified institutional FX service, including precise market
data and trade analytics.</p><p>Cürex,
established in 2009, brings a comprehensive ECN product portfolio to the table.
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 <a href="https://www.financemagnates.com/terms/a/analytics/">analytics</a> featuring
real-time data analysis.</p><p>"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," David Mercer, the CEO of LMAX Group, said. "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, which includes the top 40 global
banks and all non-banks, will be complemented by Cürex's bank and buy-side
relationships. The acquisition is expected to fast-track LMAX Group's growth in
the U.S. market, enhancing its technical capabilities and customer
relationships.</p><p>"LMAX
Group is the right business to take Cürex into the next stage of its evolution
and start a new phase of growth," James Singleton, the CEO of Cürex, added.
"After more than a decade of building Cürex, I will be leaving the
business, following completion of the acquisition. It has been a privilege to
serve in this role and I have no doubt that the combined organisations can
achieve great success together under the leadership of LMAX Group." </p><p>A Step Forward in LMAX
Group's Global Strategy</p><p>The
acquisition aligns with LMAX Group's international growth strategy, further
solidifying its institutional FX <a href="https://www.financemagnates.com/terms/e/exchange/">exchange</a> market position. The company has a
unique standing in both the FX and digital assets sectors, promising strong
long-term growth potential.</p><p>The deal is
expected to close within a month and is subject to standard closing conditions.
The financial terms have not been disclosed.</p><p>Last Year, <a href="https://www.financemagnates.com/institutional-forex/curex-group-inks-deal-with-siemens-group/" target="_blank" rel="follow">Cürex
reached an agreement with Siemens</a> to provide it with pre- and post-trade data
analytics through its Cipher platform. Regarding LMAX, its crypto exchange
subsidiary dubbed LMAX Digital, was recently celebrating <a href="https://www.financemagnates.com/cryptocurrency/lmax-digital-turns-5-with-1-trillion-traded-in-crypto/" target="_blank" rel="follow">its fifth year of
operation</a>.</p>

This article was written by Damian Chmiel at www.financemagnates.com.