Business as usual at LMAX Exchange following extreme CHF volatility
London, 16 January 2015 – LMAX Exchange, the world leading regulated MTF for FX, today reported business as usual following the extreme market volatility caused by the discontinuation of the CHF peg by the SNB with the only changes being temporary increased margins of 10% on EURCHF and USDCHF and 5% on other CHF crosses.
CEO David Mercer commented that “Thursday was a difficult day for the FX marketplace and our clients following the unprecedented volatility in the Swiss Franc. Our strict risk controls and robust technology ensured that LMAX Exchange suffered no significant financial repercussions. We expect business as usual for our clients on Friday with no change to our international operation in London, Hong Kong and Tokyo. The benefits of exchange style execution and limit order book transparency were clear to see after the general market dislocation created by the SNB announcement. ”
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Media Contacts
For further information please contact:
LMAX Exchange (London):
Barbara Pozdorovkina T: +44 20 3192 2510 E: [email protected]
About LMAX Exchange
LMAX Exchange Group is a dynamic, visionary and award-winning financial technology company. Recognised as one of the UK’s fastest growing technology firms, LMAX Exchange is leading the transformation of the global FX industry to transparent, fair, precise and consistent execution. Operating one global marketplace for trading FX, metals, indices and commodities, LMAX Exchange delivers open access, transparency and a level playing field to all market participants.
LMAX Exchange Group offers all clients the ability to trade on LMAX Exchange central limit order book, driven by streaming no ‘last look’ limit-order liquidity from top tier banks and non-bank financial institutions. Servicing funds, banks, brokerages, asset managers and proprietary trading firms, LMAX Exchange offers an anonymous, regulated, rules-based trading environment, order execution in strict price/time priority, and access to real-time streaming market and trade data, enabling all market participants to control execution quality and total trading costs.
Offering a comprehensive range of instruments and ultra-low latency execution, LMAX Exchange operates a global FX exchange infrastructure with matching engines in London, New York and Tokyo.
LMAX Exchange - a unique vision for global FX.
2024
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LMAX Exchange is a trading name of LMAX Limited, which operates a multilateral trading facility, authorised and regulated by the Financial Conduct Authority (firm reference number 509778) and is a company registered in England and Wales (number 6505809).
LMAX Global is a trading name of LMAX Broker Limited which is authorised and regulated by the Financial Conduct Authority (firm reference number 783200) and is a company registered in England and Wales (number 10819525).