Does the World Look Different Now?

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In a one-on-one interview during Profit & Loss Dial-In Day London on April 29th, David Mercer, CEO of LMAX Group, which operates multiple institutional exchanges for FX and crypto currency trading, including LMAX Digital, based in the UK, discussed pre- and post-pandemic markets with Profit & Loss’s managing editor Colin Lambert.

The lack of risk appetite since April, particularly at the start of the Asia open has been a notable occurrence, said Mercer, as has a lack of liquidity. Although he said he isn’t necessarily seeing anything systemic at the moment, this leads to an increased risk of flash crashes, a possibility that is likely to increase as the market moves to a risk-on environment again, with even smaller orders having potential trigger such moves.

 

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Colin Lambert

Colin Lambert