LMAX Digital Gets In Principle Crypto Nod in Gibraltar
LMAX Digital, the institutional crypto currency exchange operated by LMAX Exchange Group, has announced that it has received an in-principle decision on the firm’s application for a license as a Distributed Ledger Technology (DLT) Provider from the Gibraltar Financial Services Commission (GFSC).
An in-principle decision is the final stage of the license authorisation process, where LMAX Digital needs to satisfy the GFSC with respect to one or more conditions before obtaining a license. “LMAX Digital was designed to address the challenges that have hindered institutional growth in the crypto currency market, such as fragmented liquidity and a lack of regulation and institutional grade technology platforms,” says DSavid Mercer, CEO of LMAX Exchange Group. “LMAX Digital has filled the gap in the crypto market by providing institutions with a trading platform they trust, with deep liquidity, security of funds, and high performance, proven technology.
“We believe regulatory input is essential for the growth of the crypto currency market,” he adds. “LMAX Exchange Group has always supported regulatory oversight and we work proactively with regulators to help foster a transparent and trusted marketplace for all market participants.”
Bank Leumi (UK) Signs with Eurobase
Bank Leumi (UK) has selected Eurobase’s Siena platform to support its FX treasury management. The bank, which is the London-based subsidiary of Israel’s international bank, offers a range of corporate banking services to both UK-based and international clients.
Joe Locke, CEO of Eurobase Banking Solutions, says: “Siena will support the bank’s continued commitment to its customers and will provide the bank with increased visibility and management of its exposure and risk, while also meeting its increasing regulatory reporting requirements. We look forward to delivering a successful implementation and providing a long-term partnership to the bank.”
Dav Frank, chief operating officer at Bank Leumi (UK), adds: “As one of the most trusted and reliable treasury management software providers in the market, we are delighted to have selected Siena as our platform to undertake the bank’s treasury activities including regulatory reporting and compliance management requirements. Bank Leumi is underpinned by its client-centric, solutions-driven approach, and we are confident that the Siena platform will help to strengthen our offering.”