XTX Markets is a London-headquartered algorithmic trading firm and electronic liquidity provider. It builds machine learning models that generate price forecasts for more than 50,000 financial instruments across equities, fixed income, currencies, commodities and cryptocurrency, then uses those forecasts both to trade on exchanges and alternative venues and to stream differentiated liquidity directly to institutional clients. The firm states it trades over $250 billion a day across 35 countries. Where many electronic market makers compete primarily on speed, XTX has said it does not engage in high-latency market-making, instead competing on the statistical accuracy of its price forecasts, an approach it backs with a research infrastructure it describes as including over 25,000 GPUs and more than one exabyte of usable storage. It is among the largest non-bank dealers in foreign exchange, and has for several years been ranked the top electronic liquidity provider (ELP) systematic internaliser (SI) for UK and EU cash equities by Rosenblatt Securities, a category of firm that deals directly with clients as principal rather than routing orders through a public exchange order book; it held that top spot for 2025, the fifth time in six years, with annual SI volume of about EUR 177 billion and, in April 2025, a single month's average daily SI volume of roughly EUR 1.02 billion, which the firm says was an industry first for an ELP SI. XTX Markets was founded on 30 January 2015 by Alex Gerko, who spun the business out of quantitative hedge fund GSA Capital and holds a majority ownership stake of around 75 percent; Hans Buehler serves alongside Gerko as co-CEO. The firm has been an FCA-authorised investment firm since July 2016 and registered as a US broker-dealer since December 2017, and operates additional offices in Paris, Singapore, New York, Bristol, Mumbai, Yerevan and Kajaani, Finland, alongside its London headquarters, employing roughly 300 people. For the 2025 financial year it reported revenue of £3.9 billion (about $5.2 billion), up 44 percent year on year, and net profit of £1.7 billion, up roughly a third from 2024. The firm says it has committed over £400 million to charitable causes since 2020, concentrated on mathematics education and research funding; in 2026 it pledged a further $40 million to the Global Talent Fund to provide scholarships for young mathematicians and scientists. It has also continued expanding its computing footprint, including plans for a second data centre at its campus in Kajaani, Finland.
