Siege FX completes £7M funding round – e-Forex
Siege FX has announced the closing of its Series A fundraising, a £7.0 million round led by Nasdaq Ventures, UBS and Barclays. Siege’s first service, MidPool, is an innovative mid-matching mechanism for Spot FX. It enables participants to seek offsetting liquidity without information leakage and transact at a pre-formed and independent mid-rate. Already used by leading global
banks, institutional investors, and corporate treasurers to minimise market impact and execution costs, MidPool is experiencing sustained growth thanks to both existing and new participants. This Series A funding will enable further deployment of the solution across more instruments, as well as the development of additional services aimed at delivering trading and operational efficiency for FX market participants.
“We are pleased to welcome these strategic investors as we embark on the next exciting phase of the company’s development.” said Claude Goulet, CEO of Siege FX. “Following the traction experienced with MidPool, their support will enable Siege to innovate further and address a wider set of key challenges faced by foreign exchange and global markets participants more broadly.”
