The New York Southern District Court seeks international judicial assistance on the issue of alleged illegal practices for the dependence of FX auctions on Currenex.
On September 3, 2025, Judge Lewis A. Kaplan issued a provision granted the request for international judicial assistance with the aim of testimony by the non -party Jan Stromme.
The letter is sent to the Division Bench’s Division in England and Wales. It seeks assistance in obtaining evidence that will be used in a civil procedure before the New York Court.
The goal is to obtain a testimony for use by a witness who does not reside in the United Kingdom, Mr. Jan Stromme, the former world leader of XTX Markets Limited (one of the so -called plaintiffs of the action), who held this position during the period.
This difference was submitted by Edmar Financial Company, LLC, Irish Blue & Gold, Inc. and XTX Markets Limited. The plaintiffs claim that Currenex had agreements with some platform users, such as State Street Bank, Goldman Sachs & Co. LLC and HC Technologies LLC, to offer them some benefits of the platform.
The plaintiffs support two categories of behavior.
First, the plaintiffs claim that the algorithm used by the Currenex platform to match the transactions included tiebreaking rules that allegedly prioritized the offers of the accused trading against other bids at exactly the same price, even if the other bids were first submitted.
Secondly, the plaintiffs claim that the HC Tech is said to have been given “access to the management level” on the platform, is supposed to allow it to see the activity of all platform participants.
The defendants deny the claims of the plaintiffs and argue that the claims of the plaintiffs are prohibited, in whole or in part, for various reasons, including (1) Estoppel; (2) Statute of the restrictions; (3) lack of attitude; (4) lack of damage; (5) and lack.
The issue for Mr Stromme’s examination will be related to his knowledge and/or participation in the following:
- The criteria that XTX used to choose which FX trading venues during Mr Stromme’s employment with XTX.
- The XTX factors considered when making trade decisions on the Currenex platform, including any disclosures or representations made by the defendants examined by the XTX to decide whether to market and continue to market the Currenex platform.
- The service agreements between XTX and Currenex, including negotiating the terms of service agreements and any XTX fees have agreed to pay for the services governed by the service agreements.
- The knowledge and understanding of XTX about Currenex platform logic, including the use of Currenex platform priority.
- Mr. Stromme’s knowledge and understanding of whether the Currenex platform served as a central borderline book and/or rigorous first base.
- Mr. Stromme’s knowledge and understanding of the functioning of the Currenex platform, including, without limitation, in terms of (i) how the links were decided and (ii) what values a particular user was able to see, including when and how and how and how Mr Stromme came to have such an understanding.
- Mr Stromme’s interactions with Currenex, including Currenex’s liquidity management team, about the liquidity available in XTX.
- Any preferential treatment that the XTX received on other FX ECN platforms, including the rights it received because of its status as a liquidity provider, including, including the rights of the latest appearance and the right to flow of hidden prices and understanding of these rights.
Testimony is for use in Mr Stromme’s court on his previous employment by XTX Markets Limited. This person is not a party in this case and is only a witness on this subject.
Last month, the New York South District Court issued an order imposing Alexander Gerko, the founder and co-directions of XTX and Zarthustra Amrolia, a former co-EMO and the current XTX president, to sit for deposits.