Cürex Announces Additional Bank Participation to its Peer to Peer Matching Platform for Buy Side Institutions
The Cürex Group, a New York City-based institutional foreign exchange execution services and data analytics company, today announced the addition of Barclays to its peer to peer matching platform. Since the initial launch of its peer to peer platform in August of 2021, Cürex has grown client usage, trading volume and added connectivity to additional bank trading algorithms. With the recent addition of Barclays, Cürex’s buy side clients can now seamlessly execute their FX trades in the peer to peer pool through the trading algorithms of six major FX banks including: BNP Paribas, Credit Suisse and UBS. Cürex expects to add additional banks to its platform in the months ahead.
Through its development work with FX banks and its buy side customers, Cürex’s peer to peer platform enables the buy side to anonymously match against each other at the mid-point derived from the FTSE Russell/Cürex benchmark rates in a no market impact environment. Buy side customers can choose to show their trading interest to the peer to peer pool through their bank algorithms which can continue to work their algo trades while gaining exposure to the Cürex peer to peer platform.
James Singleton, Cürex’s Chairman and CEO, commented, “Given the breadth of our buy side client base, it was natural for Cürex to enhance our offerings with a peer to peer platform. Our customers wanted the opportunity to trade against other institutions at a mid-point reference rate without changing their trading workflows. In collaboration with our bank partners, we are able to provide our customers access to peer to peer directly through bank algorithmic trading platforms. Our customers receive anonymous, mid-point matching against other buy side institutions without changing their trading relationships, credit or processes. Traders can customize their exposure to the peer to peer platform while setting the parameters of their algorithmic trades with their existing algo banks. We believe this is the optimal path for peer to peer matching for the buy side.”
Franz Schmidpeter, Cürex’s Senior Managing Director, added, “Cürex’s peer to peer platform is generating significant two-way interest and the addition of bank platforms like Barclays certainly enhances match possibility for our client base. Our customers receive a fair and transparent mid-point price for their trades derived from the FTSE Russell/Cürex benchmark rates. With no clearing or trading relationship changes needed to access peer to peer, customers simply request the addition of peer to peer to their existing bank algorithm functionality and gain access to this no market impact environment.”
About Cürex Group
Cürex Group Holdings, LLC is a foreign exchange focused execution services and data analytics provider. Our singular focus is to improve the FX experience for every buy side institution. Cürex operates an FX ECN with robust no last look liquidity and complete transparency. Our unique market and trading analytics delivers meaningful intelligence to our customers. Our FTSE Russell/Cürex FX Benchmarks provide real time measurements to assess trading results and provide valuation metrics. Our mission is to work in partnership with our clients to add unparalleled clarity to all their foreign exchange activities. Our process and approach deliver demonstrable “best execution” outcomes that are auditable and support our customers’ efforts to make better trading decisions. Cürex is headquartered in New York City and independently owned and operated. For more information, visit www.curexgroup.com
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