LMAX Exchange is expanding its
infrastructure by launching a North
American matching engine in the Equinix International Business Exchange data
centre in New York (NY4).
The matching engine is
a new liquidity pool for institutional spot FX trading, which the firm says is
built specifically for funds, asset managers, brokerages and banks. The new
exchange enables North American clients to trade on, no ‘last look’ limit order
liquidity. LMAX says US clients will further benefit from low latency
execution, high fill rates, price improvement as standard and access to real
time streaming market data.
The addition of the
NY4-based matching engine to the LMAX Exchange infrastructure augments its
exchanges in London (LD4) and Tokyo (TY3) and “represents a significant
milestone in the company’s global expansion”.
David Mercer, LMAX
Exchange CEO, says, “Through the global proliferation of exchange style
execution for traditionally OTC-traded FX products, such as spot FX, LMAX Exchange
is leading the charge towards greater transparency. We are committed to
re-establishing trust in global FX markets by delivering precise, consistent
execution to all participants, regardless of status, size or activity levels.
“By using robust and scalable
technology we are able to deliver internal exchange latency of less than 100
micro-seconds – this is critical for the demands of institutional traders and
liquidity providers worldwide and our extensive client base in over 90 countries,”