LMAX Exchange, the UK’s fastest growing technology company, achieves first full year of profitability following global expansion
London, 20 May 2015 – LMAX Exchange, the UK’s fastest growing technology company and the leading FCA regulated MTF for FX, is pleased to announce its first full year of profitability with reported annual net profits of £0.5 million in 2014.
Further 2014 highlights and year-on-year change:
- Annual trading volumes reached $1.9 trillion, up 73%
- 2,400 active clients, up 60%
- Gross revenues of £26.2 million, up 45%
- Gross profits of £16.5 million, up 80%
Business activity was stronger than ever for LMAX Exchange, despite the all-time low volatility in the FX market for the first nine months of 2014.
The company’s exceptional growth has been widely recognised: LMAX Exchange is ranked the UK’s No.1 Fastest Growing Technology Company in the Sunday Times Tech Track 100 league table and it was selected to join the Future Fifty programme, the exclusive group of 50 leading technology businesses that forms part of the UK Government’s Tech City initiative.
These strong results follow a year of significant investment by the company in growing its sales and operational coverage globally. In 2014, LMAX Exchange has opened offices in the US and Singapore, launched an operations hub in Hong Kong and set up a Tokyo-based matching engine, to provide clients in Asia Pacific with ultra-low latency execution.
In an FX market, increasingly under pressure from global regulators demanding greater transparency, LMAX Exchange remains the first and only venue to offer an exchange style trading model for spot FX, with an open limit order book and streaming firm liquidity as standard.
By leading the industry transformation to transparent, consistent and precise execution, LMAX Exchange is becoming the emerging benchmark for global FX.
Commenting on the year’s activity, David Mercer, CEO of LMAX Exchange said: “We have had a hugely successful year, and achieved strong KPI growth in the face of challenging market conditions, cementing our position as a developing force in global FX trading and on the flourishing UK fintech scene.
“Through our global expansion, at a time when FX trading is under increased scrutiny, we will continue to exert a positive disruptive force on the industry, transforming the opaque FX market place to a completely transparent and level playing field for all market participants globally.
“Our ambition, of course, does not end there and our core focus remains on further expanding our global presence, whilst diversifying our product range to become a leader in global FX.”
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.
Financial technology awards:
2017 Best FX Trading Venue - (ECN/MTF) – Fund Technology and WSL Awards more
2016 Best Trading & Execution Technology – HFM US Technology Awards more
2013 Best Overall Testing Project – The European Software Testing Awards more
2011 Best Trading System – Financial Sector Technology Awards more
FX industry awards:
2017, 2016, 2015, 2014, 2013 Best FX Trading Venue - (ECN/MTF) – WSL Awards more
2017, 2016, 2015, 2014, 2013 Best Margin Sector Platform – Profit & Loss Readers' Choice Awards more
2017, 2013 Best Execution Venue – Forex Magnates Awards more
2014 Best Infrastructure/Technology Initiative – WSL Institutional Trading Awardsmore
Business growth awards:
2016, 2015 Winner – Deloitte UK Technology Fast 50 more
2016, 2015 Winner – Deloitte EMEA Technology Fast 500 more
2015, 2014, 2013 Fastest Growing Tech Company in the UK – The Sunday Times Tech Track 100 more
2015 Recognised as a Tech City Future Fifty company – Tech City UK Future Fiftymore
LMAX Exchange Group is the holding company of LMAX Limited and LMAX Broker Limited.
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).