Siege FX Limited

Siege FX Limited is a United Kingdom-based financial technology company that provides anonymous trading technology for institutional market participants. Its flagship service is a continuous, all-to-all spot FX mid-matching dark pool, designed to serve the world's leading financial institutions. The company's stated mission is to make FX execution more efficient by allowing participants to move risk without moving markets. Siege FX operates a non-price-forming liquidity pool in which institutional participants interact with the entire client network. Trades are matched at an independently formed mid-rate provided by New Change FX, allowing participants to avoid the cost of crossing the spread. The service is engineered to minimise information leakage and market impact, with participant identities remaining hidden from order through to settlement and a central counterparty facing both sides of each trade. The company's services include MidPool, covering 67 deliverable currency pairs, non-deliverable forwards (NDFs), and precious metals (XAU and XAG). Additional offerings include FullFill execution, NetBook trade compression optimisation, and collateralisation. Connectivity is available in the LD4 data centre via existing networks and platforms, with access through GUI, FIX, 360TGTX, Lucera, Bloomberg, FXall, Portware, MarketAxess, oneZero, Fluent, 24X, KX, or partner banks' algorithms. Siege FX positions itself as a solution to the costs of moving large FX orders, addressing both spread cost and market impact. The company's approach is summarised by its tagline, "Move Risk, Not Markets." It serves institutional clients including banks, asset managers, and other sophisticated market participants seeking efficient, anonymous execution of large FX trades.

Siege FX Limited is a United Kingdom-based company that provides anonymous trading technology for institutional foreign exchange (FX) market participants. The company operates a continuous, all-to-all spot FX mid-matching dark pool, which it describes as its flagship service, serving the world's leading financial institutions. The company was established to address inefficiencies in institutional FX execution, particularly the costs associated with moving large orders. Its services are built around the concept of anonymous mid-rate matching, allowing participants to trade at an independently formed mid-rate without crossing the spread. This approach is intended to reduce information leakage and market impact, which can be significant for large FX orders. Siege FX's core offering, MidPool, provides access to 67 deliverable currency pairs, non-deliverable forwards (NDFs), and precious metals such as gold (XAU) and silver (XAG). The platform operates as a non-price-forming liquidity pool where participants interact with the entire client network. Trades are matched at the mid-rate provided by New Change FX, an independent reference rate provider. A central counterparty faces both sides of each trade, and participant identities remain hidden from order through to settlement. In addition to MidPool, Siege FX offers FullFill execution, NetBook trade compression optimisation, and collateralisation services. The company provides connectivity in the LD4 data centre, a major FX trading hub, via existing networks and platforms. Participants can access the service through GUI, FIX, 360TGTX, Lucera, Bloomberg, FXall, Portware, MarketAxess, oneZero, Fluent, 24X, KX, or partner banks' algorithms. The company's positioning is encapsulated in its tagline, "Move Risk, Not Markets." It targets institutional clients such as banks, asset managers, hedge funds, and other sophisticated market participants that need to execute large FX trades efficiently while minimising market impact. Siege FX is privately held and does not disclose detailed financial information or ownership structure publicly.

Institutional FX execution technology focused on anonymity, mid-rate matching, and reducing market impact for large orders.

• MidPool

  Continuous all-to-all spot FX anonymous mid-matching dark pool covering 67 deliverable currency pairs, NDFs, and precious metals (XAU, XAG).

• FullFill execution

  Execution service offered alongside MidPool.

• NetBook

  Trade compression optimisation service.

• Collateralisation

  Collateralisation service for FX trades.

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