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LMAX Exchange becomes the first regulated MTF to list Ven

London/Davos, January 2014 - LMAX Exchange, the FCA regulated MTF for FX trading, announces it will become the first regulated MTF to list Ven, enabling brokers, institutions and banks to trade the currency.

Ven is a global digital currency launched through social network Hub Culture. Ven currently trades against other major currencies at floating exchange rates and is backed by currencies, commodities and carbon. It is the first digital currency to float, and the first to include carbon in its pricing, making it the only environmentally linked currency in existence.

Commenting on this new development, David Mercer, CEO of LMAX Exchange says, “Ven is already used for real goods and services but this is a major step forward in the development of virtual currencies in that listing on LMAX Exchange makes it a tradable currency.”

“Virtual currencies, such as Bitcoin, have been the focus of a lot of attention over the last year. The challenge going forward is for them to become transferable. In order to become credible virtual currencies have to be able to be used as a purchasing tool.”

“Ven is ideal as the first virtual currency we are listing. But is also by no means the last, and fully we intend to exploit the market potential that credible virtual currencies have to offer.”

Hub Culture Founding Director, Stan Stalnaker, announced the launch at the World Economic Forum in Davos today saying’ “LMAX Exchange is a perfect partner for us to bring Ven from the Hub Culture community to the global financial marketplace. As an innovative and forward-thinking, regulated MTF for FX, it has recognised what a major opportunity this is, and that the significance of virtual currencies in the future of FX trading is significant.

Ven is fast and easy to use, secure and great for the environment. With Hub Culture linked identity (HubID) it is now a fantastic transaction tool for global financial inclusion. In the financial markets, Ven offers a new way to approach and settle international transactions with greater stability, efficiency and social benefit.

We believe Ven will help people transact in a direct way with a single price for goods and services and an embedded environmental benefit with every transaction. We are delighted that LMAX Exchange is the first regulated MTF to list Ven and see this as a significant step in the growth of what we believe will be a serious financial instrument going forward.”

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Media Contacts

For further information please contact:

LMAX Exchange (London):
Barbara Pozdorovkina T: +44 20 3192 2510 E: press@lmax.com

About LMAX Exchange

Recognised as one of the UK’s fastest growing technology firms for three consecutive years (2015, 2014 and 2013 Sunday Times, Tech Track 100), LMAX Exchange is the leading MTF for FX, authorised and regulated by the FCA. Servicing retail brokers, funds, corporates, asset managers and banks, LMAX Exchange delivers a unique vision for global FX trading - a transparent, neutral, level playing field for all market participants, regardless of status, size or activity levels.

The LMAX Exchange OPEN order book is driven by streaming, no ‘Last Look’ limit order liquidity. LMAX Exchange offers a range of key products, including spot FX, precious metals, commodities and equity indices, with complete pre and post-trade transparency and order execution where no ‘last look’ is standard. Orders are executed in strict price/time priority.

LMAX Exchange – the emerging benchmark for global FX.

Business growth awards:

2016, 2015 Winner – Deloitte UK Technology Fast 50 more

Deloitte UK Technology Fast 50 is a ranking of the 50 fastest-growing technology companies in the UK, based on percentage growth of fiscal year revenues over the last four years. close

2015, 2014, 2013 Fastest Growing Tech Company in the UK – The Sunday Times Tech Track 100 more

LMAX Exchange has been recognised amongst the UK’s fastest growing technology firms for three consecutive years. Tech Track 100, compiled by Fast Track annually and published by the Sunday Times each September, lists Britain’s 100 fastest-growing private tech companies based on sales growth over the last three years. close

2016, 2015 Winner – Deloitte EMEA Technology Fast 500 more

The Deloitte EMEA Technology Fast 500 pre-eminent technology awards program is a ranking of Europe, the Middle East, and Africa's fastest-growing technology companies based on percentage revenue growth over three years. close

2015 Recognised as a Tech City Future Fifty company – Tech City UK Future Fiftymore

LMAX Exchange is part of the Future Fifty programme, focused on accelerating the success of high-growth tech businesses. close

FX industry awards:

2016, 2015, 2014, 2013 Best FX Trading Venue - ECN/MTF – WSL Institutional Trading Awards more

LMAX Exchange has been awarded The Wall Street Letter Institutional Trading Awards “Best FX Trading Venue - ECN/MTF” for four consecutive years. WSL awards honour excellence among providers to the institutional trading industry. close

2016, 2015, 2014, 2013 Best Margin Sector Platform – Profit & Loss Readers' Choice Awards more

LMAX Exchange has been awarded The Profit & Loss Readers’ Choice Awards “Best Margin Sector Platform” for three consecutive years. These awards are voted on by the readers and recognise excellence within the foreign exchange industry throughout the previous year. close

2014 Best Infrastructure/Technology Initiative – WSL Institutional Trading Awards more

LMAX Exchange has been awarded The Wall Street Letter Institutional Trading Awards “Best Infrastructure/Technology Initiative” in 2014. WSL awards honour excellence among providers to the institutional trading industry. close

2013 Best Execution Venue – Forex Magnates Awards more

LMAX Exchange has been awarded the Forex Magnates Awards “Best Execution Venue”. The awards are granted to the top firms in their categories and announced at the annual London summit. close

Financial technology awards:

2016 Best Trading & Execution – HFM US Technology Awards more

The HFM US Technology awards recognise hedge fund technology providers that have demonstrated exceptional customer service and innovative product development in the past 12 months. close

2013 Best Overall Testing Project – The European Software Testing Awards more

The European Software Testing Awards (TESTA) recognise excellence and innovation in the software testing and quality assurance across a variety of industries. close

2011 Best Trading System – Financial Sector Technology Awards more

The FST Awards recognise excellence and innovation in the field of information technology within the UK and EMEA financial services sector. close

2011 Innovative Programming Framework – Oracle Duke's Choice Awards more

Oracle’s Duke's Choice Awards celebrate extreme innovation in the world of Java technology and are granted to the most innovative projects using the Java platform. close

LMAX Limited operates a multilateral trading facility (MTF). Authorised and regulated by the Financial Conduct Authority, FCA Registered no. 509778.