The Cürex Group, a New York City-based institutional FX execution services and data analytics company, today announced the addition of Societe Generale to its peer to peer matching platform.

Cürex continues to grow its peer to peer platform with increased client participation, trading volume and added connectivity to bank trading algorithms. With the recent addition of Societe Generale, Cürex’s buy side clients can now seamlessly execute their FX trades in the peer to peer pool through the trading algorithms of seven major FX banks. Cürex expects to add additional banks to its platform in the months ahead.

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:

“Our peer to peer platform continues to grow its buy side client base and trading volume and we are delighted to add Societe Generale to the list of global FX banks that provide access to the peer to peer liquidity pool through their trading algorithms. We worked with our bank partners and clients to design a buy side only, peer to peer matching platform that provides anonymous executions at a mid-point reference rate with no changes to our customers’ trading workflows, credit relationships or processes. Traders can manage their peer to peer exposure while setting the parameters of their algorithmic trades with a growing list of global bank trading algorithms.

Our buy side customers receive anonymous, mid-point matching with no market impact and our bank partners are able to enhance the liquidity and matching opportunities available through their FX trading algorithms. It’s a win-win for Cürex’s buy side clients and our algo bank partners.”

Franz Schmidpeter, Cürex’s Senior Managing Director, added:

“We continue to grow the two-way trading interest on the peer to peer platform and the addition of Societe Generale will further increase the matching opportunities among our buy side client base. Accessing Cürex’s peer to peer liquidity pool does not require any changes to credit or clearing relationships. Our customers receive a fair and transparent mid-point price for their trades derived from the FTSE Russell/Cürex benchmark rates. Clients can simply request the addition of the peer to peer platform to their existing bank algorithm functionality and gain access to this no market impact environment.”