LMAX Exchange bucks trend with PoP launch
FX Week, March 2015 – Foreign exchange trading platform LMAX Exchange has launched a prime-of-prime (PoP) service, aimed at providing retail brokers, hedge funds and asset managers with credit, liquidity and market access.
The launch comes amid turbulent times in the prime brokerage (PB) space as banks tighten up credit and pull back from smaller clients in the wake of the Swiss National Bank’s decision to pull its EUR/CHF floor; a move that left many PB customers nursing hefty losses.
LMAX Exchange says that it will leverage its PB relationships while giving clients access to ‘non-last look’ liquidity on its exchange and other execution venues.
“There has never been more demand for the flexibility and cost advantages of PoP services than in the current environment. As major PB banks are either raising capital requirements, dropping smaller clients or exiting the space altogether, LMAX Exchange is perfectly positioned to connect traders with both the needed credit lines and liquidity on multiple execution venues,” says Gareth Bowles, head of prime sales at LMAX Exchange.
It aims to differentiate its offering by using its proprietary pre-trade risk management tools rather than thirdparty plug-ins.
“As with all the services we offer, what will truly mark LMAX Prime as exceptional is our technology, which will allow clients safe, fast, transparent and efficient execution with unique pre-trade risk management,” says Scott Moffat, chief operating officer at LMAX Exchange.
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:
2018, 2017, 2013 Best Execution Venue – Forex Magnates Awards more
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
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
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).