LMAX Exchange Group Reports Record Interim Results in 2019
London, 29 July 2019 – LMAX Exchange Group (“LMAX Exchange” or “the Company”), a leading independent operator of institutional exchanges for electronic FX trading and crypto currencies, reports excellent growth and record financial performance for the six months to 30th June 2019.
Interim Results 2019 – financial highlights:
- Gross Profit of US$25.8m, up 27% from H1 2018
- Statutory EBITDA of US$11.3m, up 50% from H1 2018
- EBITDA Margin of 44%, up 7% from H1 2018
- Notional trading volume across exchanges up 9% from H1 2018
LMAX Exchange achieved record Interim Results, beating all previous records for profitability, margins and volumes. The company’s improved EBITDA and rising margins has made LMAX Exchange one of the most profitable operators in the FX execution sector.
Allied to increasing volumes and profitability in the Group’s established FX exchanges, LMAX Digital volumes have grown exponentially to a high of $8.5 billion in June 2019, producing a standalone EBITDA of $1.5m. Since the launch in May 2018, over $20 billion worth of cryptocurrencies has been traded on LMAX Digital, the only deliverable crypto exchange dedicated to institutional participants.
David Mercer, CEO of LMAX Exchange, said:
“Building on our record year in 2018, we have succeeded on continuing the strong momentum into the first half of 2019 and have broken yet more records. LMAX Digital, our institutional-only crypto currency exchange, has achieved outstanding results with over 7 million trades completed since launch and is our fastest ever growing exchange.
“Based on continued requirements from institutional investors across our venues for order-driven, firm liquidity and the appreciation for our focus on transparency, precision and consistency in execution, we maintain our positive outlook for the rest of 2019 and are excited about what lies ahead for LMAX Exchange Group.”
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Notes to Editors
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
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: