LMAX Exchange
LMAX Exchange Group is a global financial technology company, which operates multiple institutional execution venues for electronic foreign exchange trading (FX trading). The Group's portfolio includes LMAX Exchange (FCA regulated MTF), LMAX Global (FCA regulated Broker) and LMAX Digital, the institutional crypto currency exchange.
Headquartered in London, UK, LMAX Exchange operates a global exchange infrastructure with matching engines in London, New York and Tokyo. The company has regional offices in New York, Chicago, Hong Kong, Singapore, Tokyo and Auckland.
History
LMAX Exchange was launched in 2010 to offer exchange style execution and regulated, rules-based, no ‘last look’ trading environment to all market participants in the foreign exchange market. The key enabler of LMAX Exchange business model is the proprietary technology. LMAX Exchange has open-sourced some components of its technology, including Disruptor concurrency software to support the extremely low latency requirements of its trade processing servers.
In 2014, LMAX Exchange was ranked the fastest growing company in the UK by the Sunday Times TechTrack 100.
LMAX Exchange became the first market participant to commit to FX Global Code and has published TCA (Transaction Cost Analysis) research, outlining the methodology to compare trading costs between firm and last look liquidity.
Today, LMAX Exchange operates 5 institutional exchanges. The latest exchange, LMAX Digital - the institutional exchange for digital currencies, was launched in May 2018.
Business model
LMAX Exchange operates a central limit order book with streaming order driven firm liquidity. Servicing funds, banks, brokerages, asset managers and proprietary trading firms, LMAX Exchange offers an anonymous, regulated and rules-based trading environment with strict price and time priority order execution at ultra-low latency. Clients have access to real-time streaming market and trade data, which enables the control of execution quality and total trading costs.
