Tag: annual report

annual report

LMAX Exchange Reports Strong 2016

LMAX Exchange has reported record high profitability with reported annual EBITDA of £5.6m in 2016.
This marks the company’s strongest financial performance to date and, it says, “demonstrates its rapidly expanding footprint in the global FX market – particularly remarkable in the face of a difficult period for the spot FX industry, which has seen a volume decline of 19% over the last three years”.
The EBITDA of GBP 5.6 million is a 300% increase on 2015, the firm says that gross profit was GBP 20.8 million, up 33% year-on-year.

SNB Continues to Intervene in FX Markets

The Swiss National Bank continued to intervene in foreign exchange markets in 2016 with the intention of averting Swiss franc strength.
According to the central bank’s latest annual report, it bought a total of CHF 67.1 billion in foreign currency, from CHF 86.1 billion in 2015. The latter included intervention in the two weeks ahead of the central bank removing the EUR/CHF floor on January 15, 2015.
The SNB’s reported a profit of CHF 24.5 billion in 2016, following a loss of CHF 23.3 billion in the previous year.