Top UK Exchange LMAX Launches Cryptocurrency Trading

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Top UK Exchange LMAX Launches Cryptocurrency Trading
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UK-based LMAX Exchange Group (LMAX Exchange) is launching a cryptocurrency platform LMAX Digital for institutional clients.

The company said that it launched LMAX Digital because clients wanted access to Bitcoin and other cryptocurrencies. Bitcoin, Ethereum, Litecoin, Ripple and Bitcoin Cash are now available to trade on the exchange 24 hours a day, seven days a week.

LMAX digital is governed by the same rules as the exchange’s Multilateral Trading Facility which is fully compliant with the Financial Conduct Authority (FCA), a SEC-like regulator for UK-based firms, the company says.  

David Mercer, CEO of LMAX Exchange, says:



“The rise of institutional trading of cryptocurrencies will be a game-changer for the industry. Digital currencies are, without a doubt, coming of age. Exchanges will play a crucial role in bringing the major cryptocurrencies into wider circulation, helping them to become accepted into general funds which in turn will help to support a normalization of value.”


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LMAX Digital was developed using knowledge from the company’s institutional expertise in the FX market and will include a streaming central limit order book, hot/cold multi-signature wallets, full custodian solutions and orders that are time-stamped in microseconds, the exchange says.

David Mercer adds:



“We’ve applied everything we’ve learned in the institutional FX market to LMAX Digital, to create a fundamentally improved, secure digital exchange based on our proven trading technology, market-leading liquidity and transparent and precise execution.”



The company also has plans to roll out of the LMAX Digital exchange infrastructure in New York and Tokyo soon.

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