Investment News

LMAX global forex trading firm launches crypto trading

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LMAX Exchange Group, the owner of LMAX Exchange, announced the launch of their first institutional crypto exchange on 21 May 2018. It is a financial technology firm. The exchange is named as LMAX Digital. It will provide the investors with a platform to trade in the top five cryptocurrencies. These cryptocurrencies are Bitcoin, Ethereum, Ripple, Litecoin and Bitcoin Cash. These cryptocurrencies are chosen as they provide the highest liquidity level.

The launch of this institutional exchange will be good news for this industry because it has struggled for legitimate recognition since long! David Mercer, LMAX Exchange’s CEO made a statement that the institutional cryptocurrency trading will change the crypto game as a whole.

LMAX Digital will be governed by the rules and principles of LMAX Exchange’s FCA-regulated multilateral trading facility. This will bring a high level of compliance and security for the clients. Another interesting feature of this exchange is that its services will be available 24/7.

Initially, the new exchange will be confined to London-based data centre only. In the upcoming months, LMAX Digital plans to open the infrastructure in New York as well. Apart from being an institutional cryptocurrency exchange, it has a large number of benefits for its users! First, it has a single rulebook for all its members. This will be visible to everyone. Second, it offers full custodian solution.

A custodian solution includes everything from holding equities and bonds to setting purchases and sales. It also includes management of accounts and reporting the status of assets. As holding and transacting digital currencies have a large number of problems associated with it, custodian solutions are a highly sought-after service. Lastly, it provides multi-signature and secure wallets.

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