The New York Southern District Court is seeking international judicial assistance in the matter concerning allegedly illegal practices of rigging FX auctions on Currenex.

On September 3, 2025, Judge Lewis A. Kaplan issued an order granting the request for international judicial assistance for the purpose of compelling testimony from non-party Jan Stromme.

The relevant letter has been sent to the Senior Master of the High Court (King’s Bench Division) of England and Wales. It requests assistance in obtaining evidence to be used in a civil proceeding before the New York Court.

The aim is to obtain testimony for use at trial from a non-party witness who resides within the UK, Mr. Jan Stromme, the former Global Head of Distribution for XTX Markets Limited (one of the Named Plaintiffs in the Action), who held that position during the relevant period at issue in the Action.

This litigation has been brought by Edmar Financial Company, LLC, Irish Blue & Gold, Inc., and XTX Markets Limited. The plaintiffs allege that Currenex had agreements with certain users of the platform, including State Street Bank, Goldman Sachs & Co. LLC, and HC Technologies LLC, to provide them with certain platform benefits.

The plaintiffs allege two categories of conduct.

First, the plaintiffs claim that the algorithm used by the Currenex Platform to match trades included tiebreaking rules that allegedly prioritized the Trading Defendants’ bids over other bids at the exact same price, even if those other bids had been submitted first.

Second, the plaintiffs claim that HC Tech was allegedly given “administrator-level access” on the platform, supposedly allowing it to view the activity of all platform participants.

The defendants deny plaintiffs’ allegations and assert that Plaintiffs’ claims are barred, in whole or in part, for several reasons, including (1) estoppel; (2) statute of limitations; (3) lack of standing; (4) lack of damages; (5) and lack of proximate or actual cause.

The subject matter for the examination of Mr. Stromme will relate to his knowledge of and/or involvement in the following:

• The criteria that XTX used to select which FX trading venues to trade on, during Mr. Stromme’s term of employment with XTX.
• The factors XTX considered in deciding to trade on the Currenex Platform, including any disclosures or representations made by Defendants that XTX considered in deciding whether to trade, and whether to continue to trade, on the Currenex Platform.
• The service agreements between XTX and Currenex, including the negotiation of the terms of those service agreements and any fees XTX agreed to pay for the services governed by the service agreements.
• XTX’s knowledge and understanding of the Currenex Platform’s matching logic, including with respect to the Currenex Platform’s use of prioritization.
• Mr. Stromme’s knowledge and understanding of whether the Currenex Platform operated as a central limit order book and/or on a strict first-in-first-out basis.
• Mr. Stromme’s knowledge and understanding of the operation of the Currenex Platform, including without limitation, with respect to (i) how ties were decided, and (ii) which prices a given user was able to see, including when and how Mr. Stromme came to have such understanding.
• Mr. Stromme’s interactions with Currenex, including Currenex’s liquidity management team, regarding the liquidity available to XTX.
• Any preferential treatment that XTX received on other FX ECN platforms, including any rights that it received by virtue of its status as a liquidity provider, including, but not limited to, last look rights and the right to stream hidden prices, and XTX’s understanding of those rights.

The taking of testimony is for use in court of Mr. Stromme concerning his prior employment by XTX Markets Limited. This individual is not a party to this case and is only a witness in this matter.

Last month, the New York Southern District Court issued an order compelling Alexander Gerko, founder and co-CEO of XTX, and Zarthustra Amrolia, former co-CEO and current Chairman of XTX, to sit for depositions.