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Lack of offsetting flow, tech bottlenecks and higher-than-expected costs weighed on start-up’s growth
Buying FX HedgePool in 2024 must have seemed like a good idea to LMAX Group.
The foreign exchange swaps matching platform had built an impressive roster of buy-side clients – including big names such as Pimco and Vanguard – and facilitated over $4 trillion in peer-to-peer trades since inception in January 2020.
The six dealers that joined as credit intermediaries were racing up the FX swaps rankings.
And the $20 million purchase price looked like a steal.
Not so much now.
FX HedgePool’s growth
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