LMAX Group, a United Kingdom-based operator of institutional exchanges for trading foreign exchange (FX) and digital assets, has on Wednesday announced that it has secured license to offer non-deliverable forward (NDF) trading in Singapore (SG1) and London (LD4).
It said the launch of NDFs will allow clients to hedge their FX exposure against non-convertible currencies on a central limit order book (CLOB), delivering transparent price discovery, deeper liquidity and efficient market structure, streaming real-time, firm limit order market data to all participants.
LMAX said the firm is committed to building an increasingly diversified offering to support growing demand from institutional investors for consistent, low-latency trading infrastructure, enhancing the FX ecosystem for global clients operating across Asia Pacific.
“We look forward to a continued, symbiotic relationship with MAS as we progress our expansion plans and build out our cross-asset product offering in the region for the benefit of local customers and the broader, vibrant, Asia Pacific market,” said David Mercer, Chief Executive Officer, LMAX.
Meanwhile, LMAX Exchange Asia Pacific (APAC) Liquidity and Analytics Head Matt DellaRocca said that as Singapore becomes an increasingly important hub for global FX trading, the firm is delighted to have the support and recognition from MAS.
According to the statement, receipt of an RMO licence recognizes LMAX’s compliance with the principles set out by the regulator in accordance with international standards and best practices, whilst upholding stringent conduct around compliance, risk management and corporate governance.
LMAX is a global financial technology company and a leading independent operator of multiple institutional execution venues for FX and digital assets.
The group’s portfolio includes LMAX Exchange (institutional FX exchange, FCA regulated MTF and MAS regulated RMO), LMAX Global (FCA and CySec regulated brokers) and LMAX Digital.
LMAX is unique in offering market access to all FX customer segments, transforming the world’s largest asset class to an open, transparent marketplace with fair, precise and consistent execution.
Its services funds, banks, asset managers and retail brokerages in over 100 countries.
The group builds and runs its own high performance, ultra-low latency global exchange infrastructure, which includes matching engines in London, New York, Tokyo and Singapore.