LMAX Digital to start publishing daily trading spot volumes
London, 26 November 2019 LMAX Digital, the leading institutional spot crypto currency exchange and part of the LMAX Exchange Group, announced that it started publishing its daily trading spot volumes on the exchange’s website, www.lmaxdigital.com.
Given the prominent role of LMAX Digital in shaping and developing the market structure for institutional crypto currency trading and its sizeable market share, the company’s move to start publishing its volumes adds greater transparency around real spot volumes traded daily in the industry.
Jenna Wright, Head of LMAX Digital, commented: “We believe that placing LMAX Digital trading volumes in the public domain will enhance the quality of market information available to investors around the world and provide a credible overview of the spot digital currency market.
“The decision to start publishing daily volumes forms part of our wider market and trade data strategy. LMAX Digital is already providing real-time market data to some of the industry’s leading reference rate indices and is working with further major institutional analytics providers to integrate our real time volume data feed into these platforms.”
David Mercer, CEO of LMAX Exchange Group, said: “Providing the investment community with access to our trading volume data, in addition to real-time market data, is an important milestone for the industry, and LMAX Digital is proud to lead the way in creating more transparency and enabling a clear picture of the true size of the spot crypto currency market.
“Being able to access real time spot trading volumes, based on deep institutional liquidity from a regulated spot cryptocurrency exchange, will further enhance the quality and accuracy of market information and price discovery.”
Mercer continued: “We firmly believe that the real market growth in the industry will come from adding more transparency. Deep, transparent market data, including trade data, enables better price discovery for the institutional market, which in turn develops better liquidity. Institutional investors will represent the lion’s share of the future growth of the industry, we hope this move will go some way to encouraging further growth in traded digital assets.”
LMAX Digital was launched in response to institutional client demand which required a robust, efficient and trusted platform on which to trade digital currencies. Today it serves over 200 institutional clients globally, averaging $250m in daily spot volumes over the last few quarters. LMAX Digital has completed 15 million trades since its launch in May 2018, with over $50 billion in trading volumes.
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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
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