LMAX Exchange Group continues global expansion with the acquisition of a broker in Cyprus
London, 17 July 2019 LMAX Global (‘The Company’), a leading FCA-regulated broker for FX and part of LMAX Exchange Group, is pleased to announce that CySEC has formally approved its application for a purchase of Cyprus-regulated broker CB Capital Business ltd. Once complete, the deal will allow LMAX Global to build out and better serve its Southern European, Cypriot and Middle Eastern institutional and intermediary client-base.
Through this acquisition, LMAX Exchange Group intends to expand its presence in the Southern European and Middle East regions where, in Cyprus alone, there are over 200 regulated brokers. The company will offer enhanced provision of firm order-driven liquidity to brokers and institutional market participants in these core growth markets.
Commenting on the acquisition, David Mercer, Chief Executive of LMAX Exchange Group, said: “This acquisition is an important step for us as we look to expand our institutional client offering across Southern Europe, the Middle East and further afield. As our Asia and US-based businesses continue to thrive, it was clear that Southern Europe and the Middle East should be the next areas of focus for us in terms of growth. This deal ensures that following the Brexit outcome our services will remain unaffected, whilst giving us the ability to serve clients in new established markets. We look forward both to improving our current institutional offering, as well as connecting with new businesses in the region.”
The acquisition is part of the Group’s international expansion strategy which aims to broaden the company’s global presence in order to provide better market access to its clients. Currently, LMAX Exchange Group services clients in over 100 countries from its eleven offices in the UK, US, EU and throughout Asia Pacific.
David Mercer added: “We fully expect controlled extension of our international footprint in the years ahead in line with our exceptional growth making us one of the most efficient FX operators in the industry.”
Following the transfer of shares to LMAX Global, the new regulated entity will sit under the LMAX Global brand, as a European legal entity – “LMAX Broker Europe ltd”.
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For further information, please contact:
LMAX Exchange press office: +44 (0)20 3192 2510 or [email protected]
FTI Consulting: [email protected]
Notes to Editors
On May 27, 2019, CySEC has formally approved LMAX Global application for a change of control of Cyprus-regulated broker CB Capital Business ltd. Following this approval, the purchase of CB Capital Business ltd will be completed once all outstanding requirements are met.
About LMAX Global:
LMAX Global, part of the LMAX Exchange Group, offers brokers and professional traders the ability to trade on the LMAX Exchange central limit order book, offering tighter spreads on streaming firm liquidity from top tier banks and proprietary trading firms.
About the LMAX Exchange Group:
LMAX Exchange Group (LMAX Exchange) is a leading independent player in global financial markets. LMAX Exchange operates multiple institutional execution venues for FX trading and crypto currencies.
Leading the transformation of the global FX marketplace to transparent, fair, precise and consistent execution, LMAX Exchange has been widely recognised for industry innovation and award-winning proprietary technology. The Group’s portfolio includes LMAX Exchange (FCA regulated MTF), LMAX Global (FCA regulated Broker) and LMAX Digital, the institutional crypto currency exchange.
Servicing funds, banks, brokerages, asset managers and proprietary trading firms, the company offers an anonymous, regulated and rules-based trading environment with strict price and time priority order execution at ultra-low latency. Clients benefit from access to real-time streaming market and trade data, which enables the control of execution quality and total trading costs.
LMAX Exchange operates a global exchange infrastructure with matching engines in London, New York and Tokyo. The company’s institutional client base spans over 100 countries.
LMAX Exchange Group www.lmax.com
FX industry excellence:
Winner: Best Anonymous Matching Platform – Profit & Loss Readers' Choice Awards | 2020 more
LMAX Group has been awarded The Profit & Loss Readers’ Choice Awards “Best Anonymous Matching Platform”. These awards are voted on by the readers and recognise excellence within the foreign exchange industry throughout the previous year. Winner: Best Execution Venue – Finance Magnates Awards | 2019 - 2013 more
LMAX Group 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. Winner: Best FX Trading Venue (ECN/MTF) – WSL Awards | 2017 - 2013 more
LMAX Group has been awarded The Fund Technology and WSL Awards “Best FX Trading Venue - ECN/MTF”. The award honours excellence among providers to the institutional trading industry. Winner: Best Margin Sector Platform – Profit & Loss Readers' Choice Awards | 2017 - 2013 more
LMAX Group has been awarded The Profit & Loss Readers’ Choice Awards “Best Margin Sector Platform” for five consecutive years. These awards are voted on by the readers and recognise excellence within the foreign exchange industry throughout the previous year. Winner: Best Infrastructure/Technology Initiative – WSL Institutional Trading Awards | 2014more
LMAX Group 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. Crypto industry excellence:
Winner: Best Cryptocurrency Exchange – Finance Magnates Awards | 2020 more
LMAX Digital has been awarded the Finance Magnates Awards “Best Cryptocurrency Exchange”. The awards are granted to the top firms in their categories and announced at the annual London summit. Winner: Best Institutional Digital Asset Platform – Profit & Loss Readers' Choice Awards | 2020 more
LMAX Digital has been awarded The Profit & Loss Readers’ Choice Awards “Institutional Digital Asset Platform”. These awards are voted on by the readers and recognise excellence within the foreign exchange industry throughout the previous year. Winner: Best Crypto solution provider – Finance Magnates Awards | 2018 more
LMAX Digital has been awarded the Finance Magnates Awards “Best Institutional Crypto Solution Provider”. The awards are granted to the top firms in their categories and announced at the annual London summit. Financial technology awards:
Winner: Best Trading & Execution Technology – HFM US Technology Awards | 2016 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. Winner: Best Overall Testing Project – The European Software Testing Awards | 2013 more
Winner: Best Trading System – Financial Sector Technology Awards | 2011 more
The FST Awards recognise excellence and innovation in the field of information technology within the UK and EMEA financial services sector.Winner: Innovative Programming Framework - Oracle Duke's Choice Awards | 2011 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. Business growth awards:
Winner: Deloitte UK Technology Fast 50 | 2016 - 2015 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. Winner: Deloitte EMEA Technology Fast 500 | 2016 - 2015 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. Winner: Fastest Growing Tech Company in the UK – The Sunday Times Tech Track 100 | 2015 - 2013 more
LMAX Group 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. Recognised as a Tech City Future Fifty company – Tech City UK Future Fifty | 2015more
LMAX Group is part of the Future Fifty programme, focused on accelerating the success of high-growth tech businesses.