I mentioned in a recent column the increasing noise around fragmentation in equity markets, specifically end user frustration and unhappiness with it, but it is noticeable to me that the same discussion is gaining more volume in FX. Now I need to stress that this is not me (for about the 10th time) predicting consolidation […]
Tag: LMAX Exchange
LMAX Group has unveiled record profitability and financial performance for the year ended 31 December 2019, reporting that 2019 EBITDA grew by 30% to $26.2 million. With an EBITDA margin of 47%, the firm claims it is one of the most profitable operators of global venues for electronic FX trading. Gross revenues were $59.6m, up […]
It hasn’t taken long in the new year for an old favourite to roll around – platform sales. The rumour mill currently has two platforms in the process of being bought – obviously by unnamed exchange groups – and a third under consideration. I have learned to be cautious of such chatter and as I […]
Thus far, some of the acquisitions of OTC FX platforms by exchange groups have not proven to be as fruitful as previously imagined, argues David Mercer, CEO of LMAX Exchange Group in a new video interview with Profit & Loss. Casting a critical eye over the competitive landscape in the FX platform space, Mercer makes […]
At the recent Forex Network Chicago conference David Mercer, CEO of LMAX Exchange Group, was interviewed by Colin Lambert about the foreign exchange and crypto market landscapes. This is an edited and abridged version of that discussion. Colin Lambert: There is a view out there that FX is no longer a trading business, how do […]
LMAX Exchange Group has reported strong revenue growth and increased volumes across its platforms achieving record first half results. The group says gross profit of US$25.8 million is up 27% from H1 2018, with statutory EBITDA of US$11.3m, up 50% from H1 2018 . Its EBITDA margin was 44%, up 7% from H1 2018 and […]
I am in yet another airport lounge (podcast listeners will be glad to hear we are not recording here, however) so just a quick note to highlight the good work of LMAX Exchange in raising money for charity through some interesting means. The latest was The “Everest Rugby Challenge” and, as the title implies, four […]
Speakers at the Profit & Loss Forex Network New York event highlighted that how you define, measure and respond to market impact when trading FX depends on a number of different variables. Opening the discussion ‘Market Impact – Finding Execution Styles that Work’ moderator Paul Aston, the CEO of Tixall Global Advisors, argued that while […]
LMAX Exchange Group has appointed Randy Rupan as head of liquidity analysis. Based in New York, Rupan will report into Jeremy Barnes, global head of liquidity management.He joins LMAX Exchange from 360T, where he worked as head of spot FX for the Americas since May 2018. Prior to that, he spent six years at FastMatch, where he was head of institutional liquidity management, and nine years at FXCM, where he was last a vice president doing business development for the firm.
LMAX Exchange Group has reported financial results for 2018 showing that its gross revenues, profits and EBITDA were all up year-on-year.The firm reported gross revenues of $50 million, gross profits of $45 million and statutory EBITDA of $18.6 million – increases of 27%, 35% and 62%, respectively, from 2017. Operating profit was $13.4 million in 2018, up 135% from the previous year.LMAX cites a 21% increase in trading volumes across the platforms that it operates as the driver of these figures, although the platform does not publicly report the actual volumes themselves. In particular, the firm highlights Asia Pacific as a major growth area in 2018.